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Slide 1: AOn MASTER TRuST cORPORATE SuPER Trust Aon Master Trust ABN 68 964 712 340 RSE R1000566 phone 1300 880 588 fax 1800 010 435 email contactcentre@aon.com.au web aonmastertrust.com.au Trustee and Issuer Aon Superannuation Pty Limited ABN 83 057 982 822 AFSL 237465 RSE L0000437 date issued 1 July 2008 Member Guide Product Disclosure Statement — Part 1 of 2 Please read this document before making a decision to invest. TODAY. TOMORROW. READY.
Slide 2: ThE AOn MASTER TRuST SuPERAnnuATiOn iS A lOnG-TERM invESTMEnT. ThE AOn MASTER TRuST OffERS YOu invESTMEnT AnD inSuRAncE OPTiOnS TO SuiT YOuR nEEDS. The Aon Master Trust is a registered superannuation fund which invests for the benefit of members. At 1 July 2008, the Trust has over $1.6 billion in assets, over 60,000 members, and over 600 participating employers. The Aon Master Trust is managed by Aon Superannuation Pty Limited, an approved trustee regulated by the Australian Prudential Regulation Authority (APRA). Aon Superannuation Pty Limited (‘the trustee’) is a wholly owned subsidiary of Aon Consulting Pty Limited, part of the Aon group of companies. Financial planning services are not provided by Aon Superannuation Pty Limited. AIG Life is the insurer of certain benefits of most, but not all, members. If you have received a PDS Part 2, AIG Life is your insurer. AIG Life has agreed to this Product Disclosure Statement (PDS) containing information about AIG Life in Insurance options on pages 22 to 31 and has not withdrawn its consent. AIG Life has not issued this PDS and has not approved any statements in this PDS that do not refer to AIG Life. Your employer has chosen default investment and insurance options for employees joining the Aon Master Trust. Full details of these options, including fees and charges, appear in the PDS Part 2: Your Plan Outline. If, having read this PDS including Your Plan Outline, you would like to change your options or other details, please complete the Change member details and options form provided with this PDS or available from our website aonmastertrust.com.au and return it to us. Our formal complaints resolution procedure is described on page 44. product ratings Aon Master Trust Corporate Super has been awarded a five star rating for 2008/2009 by The Heron Partnership (for more information on the ratings system used and to view the Heron Financial Services Guide for superannuation fund ratings services see heronpartners.com.au) and a Platinum rating for 2008 by SuperRatings (for more information on the rating system used, see superratings.com.au). References to The Heron Partnership and SuperRatings in this PDS have been authorised by the trademark holders. The analysis and information upon which ratings are based is considered accurate at the time a particular product is rated. However, ratings agencies give no guarantee or warranty and make no representation as to the product or accuracy of the third party information provided to them. Ratings are produced without taking into account any individual’s financial needs, circumstances and objectives – any person should assess the appropriateness of the advice in regard to their own financial situation and consult a licensed financial adviser. about this PDS This PDS describes the main features of the Aon Master Trust for Corporate Super members. It will help you compare the Aon Master Trust with other superannuation funds. Additional information is available if required – see Other important information on page 42. If a person needs more information about a financial services licensee, they will need to contact the financial services licensee. The Aon Master Trust also offers Personal Super for individual and self-employed members, spouses, or organisations with less than five employees, a Pension for those interested in purchasing a retirement income stream and a noncommutable pension for those transitioning to retirement. Contact us for more information. TODAY. TOMORROW. READY. 2
Slide 3: cOnTEnTS summary of features ................................. 4 your contributions .................................... 7 the nuts and bolts of investing .................. 9 investment options summary ................... 11 investment options pre-mixed ................. 12 investment options sector ........................ 14 information on SRI option ........................20 insurance options ....................................22 tax and super...........................................32 fees and other costs .................................34 accessing your super benefits...................39 other important information ....................42 what to do next .......................................45 forms .......................................................47 note Fees and conditions in this PDS apply to members who join Aon Master Trust Corporate Super on or after 1 July 2008. Fees and conditions will change over time and we will notify you of material changes. Existing members’ fees and conditions are as notified. The trustee reserves the right to correct any omissions in this PDS. If there is a discrepancy between this PDS and the trust deed, the trust deed will be the final authority. Member forms are also available on our website aonmastertrust.com.au. The information in this document is general in nature. Your personal objectives, needs or financial situation were not taken into account when preparing this information. You should consider the appropriateness of any general advice before acting on it, having regard to your own objectives, financial situation and needs. If the information relates to a financial product, you should obtain and consider the relevant Product Disclosure Statement before making any decision to purchase that financial product. This document has been prepared by Aon Consulting Pty Limited (ABN 48 002 288 646, AFSL 236667) a related body corporate of the trustee of the Aon Master Trust (ABN 68 964 712 340, RSE R1000566), Aon Superannuation Pty Limited (ABN 83 057 982 822, AFSL 237465, RSE L0000437). This is a relationship that might reasonably be expected to be capable of influencing Aon Consulting Pty Limited when the company provides financial product advice to clients in respect of the Aon Master Trust. 3
Slide 4: SuMMARY Of fEATuRES investment options Your employer has nominated a default investment option – see Your Plan Outline for details. You can choose an investment option or mix of options that suits you other than the default. There are over 30 options to choose from, arranged in two categories – see pages 11 to 19. º º AOn MASTER TRuST cORPORATE SuPER iS fOR cOMPAniES AnD ORGAniSATiOnS WiTh fivE EMPlOYEES OR MORE ThAT SElEcT ThE AOn MASTER TRuST fOR ThEiR EMPlOYEES’ SuPER AnD/OR inSuRAncE ARRAnGEMEnTS. contributions Aon Master Trust Corporate Super can accept the following contributions on behalf of members: º º º º º º employer contributions, including Superannuation Guarantee (SG) contributions personal contributions super benefits rolled over from other funds government co-contributions spouse contribution splits and payments made under family law arrangements spouse contributions. pre-mixed options sector options. insurance options Your employer selects the way your insurance is calculated. There is a minimum level of death and total and permanent disablement cover of $210,000* (indexed) on joining the fund, provided you meet a number of conditions. See Your Plan Outline for details of your level of cover and your benefits in the event of death or total and permanent disablement. You have the option to adjust the level of cover to suit your circumstances. Your spouse can also join Aon Master Trust Personal Super. super benefits If your employer has chosen the Aon Master Trust as the default fund for employer SG payments or yours is an insurance-only plan to which you contribute, super benefits may be payable to you in a range of circumstances: º º º º retirement total and permanent disablement total and partial disability death. options to suit you You can choose from three types of insurance cover and can combine cover (see pages 22 to 31): º º º death death and total and permanent disablement income protection. In addition you can choose to transfer your benefits within the Aon Master Trust or roll over your benefits in some circumstances. Provision of all insurance cover is subject to acceptance of cover by the insurer, AIG Life. * Minimum cover reduces from $210,000 at age 42 to nil at age 65 – see graph on page 22. TODAY. TOMORROW. READY. 4
Slide 5: my ebenefits A one-stop shop designed to save you time and money, my ebenefits offers quality financial and lifestyle products and services including: º º º º free tax and legal advice insurance – including car, health, home and contents lending – from over 40 different providers options for great leisure activities, gift ideas, entertainment and travel. make the most of your membership get your super together Rolling your super into one account may save you fees. Send us a completed Request to transfer whole balance of superannuation benefits between funds form at the back of this PDS. Copies are also available on our website aonmastertrust.com.au. For more information see the factsheet Rollover options on our website. fees summary compare our value with other super funds establishment fee none. boost your balance To make personal contributions to your super, send us a completed Lump sum contribution form available on our website, or talk to your employer about salary sacrifice or personal (after-tax) contribution options by payroll deductions. If you have an insurance-only plan (see Your Plan Outline), the Aon Master Trust is not your employer’s default fund for SG payment. However, you can still elect to make personal contributions or have employer SG contributions (under choice of fund) paid into your account. For more information see the factsheet Salary sacrifice on our website. contribution fee none. transfer fee none. investment switching fee none. member fee $63 pa indexed. asset administration fee up to 1.1% pa as negotiated by your employer. your spouse can join too Your spouse can join the Aon Master Trust (see page 43). They should obtain a copy of the Aon Master Trust Personal Super PDS and complete the Personal Super: Member application form. management fee between 0.43% and 1.32% pa depending on investment options chosen (default option fee is 0.46% pa), plus any performance fees which may be earned. plan your investment strategy You can switch your current and/or future investments at no cost. You can do it online once you receive your user name and password or you can send us a completed Switching investment options – current members form or a Change member details and options form. withdrawal fee $80 per payment. adviser service fee up to 2% pa or up to $10,000 pa, as negotiated between you and your adviser, where applicable. See Fees and other costs on pages 34 to 38. 5
Slide 6: choose the right insurance cover You receive a default level of insurance cover negotiated by your employer. You can customise insurance cover and premiums according to your needs. The insurance factsheets and calculator on our website aonmastertrust.com.au may help you make a choice. You can also transfer existing insurance cover (from a retail policy or super fund) to the Aon Master Trust. See pages 22 to 31 for more information on insurance options and forms that you need to complete. website and online services Forms for change of details, voluntary contributions, spouse membership, investments switches and super transfers are available on our website aonmastertrust.com.au. nominate your beneficiaries To choose a binding death benefit nomination, complete and send us the Binding death benefit nomination form. To make a non-binding nomination, complete the relevant section in the Change member details and options form. Both forms are available on our website aonmastertrust.com.au. The Trust makes anti-detriment payments to eligible dependants. For additional information on death benefit nominations see pages 30 and 43 and the factsheet Binding death benefit nomination on our website. Once you become a member of the Aon Master Trust you will receive secure online access to view your account, including personal details, transaction history, beneficiary information and investments. You will also be able to switch investments, change your personal details including your non-binding beneficiary nomination and obtain benefit quotations online with complete security. Call 1300 880 588. Our contact centre is open Monday to Friday, 7am to 7pm Eastern Standard Time (excluding NSW public holidays). plan ahead for retirement The Aon Master Trust offers you the option to purchase a pension and a transition to retirement pension – see page 39. You can download a Pension PDS from our website or call us on 1300 880 588 to have a copy mailed to you. financial planning services For details of a qualified adviser near you, call us on 1300 880 588. TODAY. TOMORROW. READY. 6
Slide 7: YOuR cOnTRiBuTiOnS concessional contributions employer contributions Under Superannuation Guarantee (SG) laws, employers must make super contributions based on a percentage of salary or wages for most employees aged 18 to 70 who earn $450 or more (before-tax) in a calendar month. This percentage is currently 9%. These contributions will count towards a member’s concessional contribution cap. Your employer has nominated the Aon Master Trust as the default fund to receive your SG payments, unless you are a member of an insurance-only plan. Under choice of fund legislation, you can accept this nomination or nominate another super fund for your employer to pay contributions into. If you choose another fund and your balance in the Aon Master Trust falls below $5,000, all insurance benefits may cease and your benefit may be transferred to the Aon Eligible Rollover Fund (ERF), if we do not receive instructions from you – see page 39 for more information. If you have an insurance-only plan, Aon Master Trust Corporate Super is not your employer’s default fund for SG payments (see Your Plan Outline to find out if yours is an insurance-only plan). However, you can elect to have employer SG payments made to your insurance-only plan under choice of fund legislation – see page 5 for more information. ThE AOn MASTER TRuST cAn AccEPT cOnTRiBuTiOnS fROM YOuR EMPlOYER (OR YOuR cOMPAnY if YOu ARE SElf-EMPlOYED), YOu AnD YOuR SPOuSE, AS WEll AS TRAnSfERS fROM OThER SuPERAnnuATiOn funDS. making your super grow You can keep your benefits in super as long as you like and earnings will be taxed at concessional tax rates. You can also contribute to super until you turn 75 as long as you are gainfully employed on at least a part-time basis (you must work for at least 40 hours in 30 consecutive days in the financial year in which you contribute) after you reach age 65. Making your own super contributions is optional but even small contributions may make a big difference to your benefits over time. contribution type employer SG < 65 years 65 but < 70 years no restriction 70 but < 75 years no restriction 75 years or more no restriction no restriction voluntary employer no restriction must be gainfully employed on at least a part-time basis must be gainfully employed on at least a part-time basis must be cannot be gainfully accepted employed on at least a part-time basis must be cannot be gainfully accepted employed on at least a part-time basis cannot be accepted salary sacrifice contributions It is possible to arrange personal (before-tax) contributions to your super (by way of ‘salary sacrifice’) if your employer agrees to making these contributions. You can also choose to have your bonus or pay rise paid into your super fund before tax is deducted, subject to employer approval. These contributions can be regular or one-off and may allow you to pay less income tax than if you made the same amount of personal (after-tax) contributions. Contact us or ask your employer for more details. Contribution caps apply – see next page. member no restriction eligible spouse no restriction must be cannot be gainfully accepted employed on at least a part-time basis Regulation 7.04(6) of the SIS Regulations allows a regulated superannuation fund to accept a contribution in respect of a member if the trustee is reasonably satisfied that the contribution is in respect of a period during which the fund could have accepted the contribution, notwithstanding that the contribution is made after that period. Concessional and non-concessional caps apply to contributions. See next page for more information. self-employed contributions If you are self-employed or substantially self-employed, you are able to claim a full deduction for personal contributions you make to super until age 75. Contribution caps apply – see next page. 7
Slide 8: non-concessional contributions personal contributions You may make personal (after-tax) contributions if you are aged under 65. You may also make personal (after-tax) contributions between 65 and 75, as long as you are gainfully employed on at least a part-time basis (you must work for at least 40 hours in 30 consecutive days in the financial year in which you contribute). Contribution caps apply – see below. One-off contributions can be made at any time using a Lump sum contribution form available from our website or by contacting us. Talk to your employer to find out if you have an option to make personal (after-tax) payments by payroll deductions. If yours is an insurance-only plan (see Your Plan Outline) you can still make personal contributions to it. rolling over money from other funds If you have had different jobs, you may have money in a number of different super funds. Moving or rolling over these balances into one account may reduce fees and paperwork and will make it easier to keep track of your super. To roll over balances from other funds to the Aon Master Trust, complete the Request to transfer whole balance of superannuation benefits between funds form at the back of this PDS. If you need additional copies of the form, you can download them from our website aonmastertrust.com.au. You will need to provide a certified copy of a photo ID with each request. See Completing proof of identity on page 2 of the form for more information. contribution caps Tax concessions will be available only up to the concessional and non-concessional contribution caps, unless you qualify under transitional rules. You can make up to $150,000 per year in non-concessional contributions or up to $450,000 averaged over three years by bringing forward future annual limits (if you are under age 65 in the financial year). Concessional contributions to superannuation will be limited to $50,000 per person per year. These caps are indexed in line with movements in Average Weekly Ordinary Time Earnings (AWOTE). For more information refer to the factsheet Tax on super on our website, contact the Australian Taxation Office on 13 10 20 or visit ato.gov.au/super. To help with retirement planning, a transitional period will apply to members who are 50 or above and for those members turning 50 before 1 July 2012. During the transitional period, the cap on concessional contributions will be $100,000 from the financial year the member turns 50 until 30 June 2012. eligible spouse contributions You can contribute to the Aon Master Trust on behalf of your spouse if your spouse is aged under 65. A spouse between 65 and 70 must be gainfully employed on at least a part-time basis to be eligible for spouse contributions. This could mean that as a couple you will pay less lump sum tax. Your spouse must already be a member of, or must join, the Aon Master Trust – see page 43. Your spouse may also contribute to the Aon Master Trust for you subject to the conditions outlined above. See Tax rebates for spouse contributions on page 32 or contact us for further details. government co-contribution The Government may pay a superannuation co-contribution of up to $1,500 for you. The maximum co-contribution amount is $1.50 for every $1.00 you add to your super as a personal (after-tax) contribution, as long as your income is below the minimum threshold for that financial year. Self-employed members may also qualify for the co-contribution. For more information, including the current thresholds, refer to the Government co-contributions factsheet on our website aonmastertrust.com.au, contact the Australian Taxation Office on 13 10 20 or visit ato.gov.au/super. You may also wish to use the co-contribution calculator on our website. TODAY. TOMORROW. READY. 8
Slide 9: ThE nuTS AnD BOlTS Of invESTinG BEfORE lOOkinG AT YOuR invESTMEnT OPTiOnS, hERE ARE SOME kEY invESTMEnT PRinciPlES. º key principles risk, return and asset classes A basic rule of investing is that the bigger the investment risk, the bigger the potential return over the long term. Investors typically structure investments across five asset classes. Each asset class has a different level of risk/return as outlined below: º º fixed interest investments are typically a loan between a borrower and a lender. The borrower (eg a government, bank or company) promises to pay the lender specific ‘fixed’ interest payments over the term of the investment and return the initial investment at the end of the loan. Although prices for fixed interest assets vary and may occasionally be negative, they typically offer lower risk and return than property or shares. cash is typically defined as short-term securities with a maturity date of less than one year. Cash investments offer a low level of risk, but are likely to provide the lowest return of all asset classes over the long term. shares represent part ownership of a company. Typically, all investments in this asset class are ‘listed’ shares – ie traded on stock exchanges. Owning shares can provide both capital growth and a proportion of profits, called dividends. Share prices change frequently and share investments typically offer a high level of risk and return. property trusts and managed property funds invest in commercial, retail, industrial, hotel and residential real estate. Property investments offer returns based on property valuations and a rental income stream. Property trusts can either be listed (ie a security tradeable on a stock exchange) or unlisted. Property returns are cyclical and typically have a higher risk/return profile than fixed interest and cash. alternative assets typically include hedge funds, private equity and infrastructure. Hedge funds use specialist investment strategies to trade shares and fixed interest assets. Private equity investments are made in companies not listed on a stock exchange. Infrastructure investments include utilities and other physical assets. These funds aim to achieve positive returns in both rising and falling markets and are typically included in diversified portfolios to reduce exposure to risk over longer time frames. See the factsheet Introduction to asset classes on our website aonmastertrust.com.au for more information. diversification Diversification means spreading investments across different asset classes, managers’ products and/or investment strategies. The aim is to reduce the overall portfolio risk while enhancing investment returns. A well-diversified portfolio facilitates smoothing of the fluctuations in returns of particular asset classes. A diversified investment portfolio typically falls into one of three categories: º º growth – invests mainly in assets aiming to provide a higher return but with higher risk. Typical asset classes include shares, property and alternative assets. º º balanced – invests in a mix of all major asset classes aiming to deliver a moderate return with a moderate risk level. defensive – invests mainly in assets aiming to provide a moderate return with lower risk. Typical asset classes include fixed interest and cash. Defensive investments may also include some growth assets. º 9
Slide 10: index and active investments Major considerations when investing include how a fund manager can add value to exceed an underlying market index or benchmark, the risk undertaken by the manager, and the management fees. Index fund managers seek to track the performance of a stock index. For example, the Australian Shares – Index option is designed to closely match the performance of the S&P/ASX 200 Accumulation Index for Australian shares. Index managers typically charge less than active managers. Active fund managers aim to outperform their benchmark by using research, active portfolio management and trading strategies. There is a risk, especially over short time horizons, that an active manager may underperform the relevant market index. Active fund managers typically charge more for taking this approach, but believe potential improved investment performance will justify the cost. application of unit prices Unit prices are derived and applied in an equitable manner that values members’ benefits and distributes investment earnings and losses equally. The trustee applies a forward pricing mechanism to process transactions to/from the Trust. This means that all transactions are processed using a unit price calculated after the Trust has received the transaction request. The practical implications for members are as follows: º contributions – we process contributions within time limits that conform to standards maintained by the trustee, using the price applicable on the date of processing. This is normally within five working days of receipt of a contribution and appropriate paperwork. benefit payments – we use the unit price on the day benefit payments are processed. Benefits are normally processed within three to five business days after all required information is received. º unit pricing policy and procedures The trustee has adopted a formal unit pricing policy for the Trust. The trustee can change this unit pricing policy and any underlying procedures at any time. The calculation of the unit price for each investment option is: Unit price = Net asset value* (of the relevant investment option) The number of units on issue for members for that investment option. º investment switches – we process investment switches no earlier than the third business day after receipt of the completed request and normally within five working days. You will receive the unit price applicable to the date the switch is processed. * The net asset value is equal to the gross asset value (ie market value of the underlying investments and cash at bank for that investment option) as at the close of business on a given day, plus accrued income minus indirect expense recoveries minus investment income tax provisions. Unit prices fluctuate from day to day but in extraordinary market conditions the price variations can be significant. The variations can also be significant in options which own relatively small levels of assets compared to cash flows in and out. The trustee does not accept liability for any losses that a member may perceive that he or she has suffered except where it is established that the published unit pricing policy has not been applied. The trustee reserves the right to suspend unit pricing activities at its discretion in exceptional circumstances. This includes the right to suspend unit prices (and therefore processing contributions to/from the Trust) in extreme market conditions. The unit pricing policy conforms to standards issued by government regulators and relevant industry bodies. note Investment returns are not guaranteed and can fluctuate over time. Past earnings are not an indication of future earning rates. TODAY. TOMORROW. READY. 10
Slide 11: invESTMEnT OPTiOnS SuMMARY AOn MASTER TRuST MEMBERS MAY chOOSE OnE OPTiOn OR A Mix Of OPTiOnS fROM ThE liST BElOW (MiniMuM 5% PER chOSEn OPTiOn). YOu cAn MAkE DiffEREnT chOicES fOR YOuR cuRREnT SuPER BAlAncE AnD YOuR fuTuRE cOnTRiBuTiOnS. Log into your account online once you receive your user name and password or send us a completed Change member details and options or Switch investment options – current members form available from our website. For the latest investment returns, visit our website aonmastertrust.com.au or call us on 1300 880 588. PRE-MixED º High Growth – Index º High Growth – Active º Growth – Index º Growth – Active º Balanced – Index º Balanced – Active º Capital Stable – Index º Capital Stable – Active º Secure – Index º Secure – Active SEcTOR º º º º º º º º º º º º º º º º Australian Shares – Index Australian Shares – Diversified Australian Shares – Core* Australian Shares – Socially Responsible* Australian Shares – Opportunities* International Shares – Index International Shares – Index ($A hedged) International Shares – Diversified International Shares – Core* International Shares – Core ($A hedged)* International Shares – Emerging Markets* International Shares – Opportunities* Property – Australian Index Property – Diversified Property – Direct Property – Global Listed ($A hedged)* º Alternative – Diversified º º º º º Fixed Interest – Australian Index Fixed Interest – International Index ($A hedged) Fixed Interest – Diversified Fixed Interest – Australian* Fixed Interest – International ($A hedged)* º Cash º Diversified – Maple-Brown Abbott * Option available from October 2008. Depending on the timing and size of initial cashflows, the investment performance of a new option may vary from the underlying product. The trustee reserves the right to close or terminate the options (either to refuse to accept new money or enforce reduction of assets) or change underlying products at any time. The trustee will inform you as soon as possible if this affects your nominated choice. TODAY. TOMORROW. READY. 11
Slide 12: invESTMEnT OPTiOnS PRE-MixED high Growth – index objective To provide a return at least 5% above CPI over rolling five-year periods. Invests 100% of the portfolio in growth assets. Returns can be very volatile over the short to medium term. Historically, shares have offered the highest long-term returns. high Growth – Active To provide a return at least 5.5% above CPI over rolling five-year periods. Invests 100% of the portfolio in growth assets. Share market investments can be very volatile over the short to medium term but, historically, these investments have offered the highest long-term returns. Growth – index To provide a return at least 4.5% above CPI over rolling five-year periods. Invests 85% of the portfolio in growth assets and 15% in defensive assets. Returns are generally less volatile than the High Growth portfolio but can still be very volatile over the short to medium term. Growth – Active To provide a return at least 5% above CPI over rolling five-year periods. Invests 85% of the portfolio in growth assets and 15% in defensive assets. Returns are generally less volatile than the High Growth portfolio but can still be very volatile over the short to medium term. Balanced – index To provide a return at least 4% above CPI over rolling five-year periods. Invests 70% of the portfolio in growth assets and 30% in defensive assets. There is likely to be volatility in returns in the short term but they tend to stabilise over longer periods. investment strategy risk/return profile strategic asset allocation1 Australian shares International shares Property Alternative – growth Alternative – defensive Aust. fixed interest Int’l fixed interest Cash 46% 46% 8% 0% 0% 0% 0% 0% 0.46% pa. 7% 5% 0% 0% 0% 0% 0.90% pa. 44% 44% 7% 0% 0% 7.5% 7.5% 0% 0.46% pa. 39% 39% 6% 4% 5% 5% 5% 0% 0.85% pa. 37.5% 37.5% 6% 0% 0% 12.5% 12.5% 5% 0.46% pa. 32% 32% management fee2 performance fee3 Nil. 0% to 0.20% pa. Nil. 0% to 0.20% pa. Nil. 1 2 3 Asset allocations shown are strategic benchmarks. Actual allocations may vary. See Management fee in the table on page 35 for details. Provided as a range of possible outcomes. Performance fees are paid only when an investment manager or product outperforms an agreed benchmark. The fee is a small proportion of the overall outperformance and if returns fall short of benchmarks, no performance fees are paid. TODAY. TOMORROW. READY. 12
Slide 13: Balanced – Active objective To provide a return at least 4.5% above CPI over rolling five-year periods. Invests 70% of the portfolio in growth assets and 30% in defensive assets. There is likely to be volatility in returns in the short term but they tend to stabilise over longer periods. capital Stable – index To provide a return at least 3% above CPI over rolling three-year periods. Invests 30% of the portfolio in growth assets and 70% in defensive assets. Relatively low but stable returns. There may be some short-term volatility. capital Stable – Active To provide a return at least 3.5% above CPI over rolling three-year periods. Invests 30% of the portfolio in growth assets and 70% in defensive assets. Relatively low but stable returns. There may be some short-term volatility. Secure – index To provide a return at least 2% above CPI over rolling two-year periods. Invests 100% of the portfolio in defensive assets. The most stable returns. Generally lower returns than the other options. Secure – Active To provide a return at least 2.25% above CPI over rolling two-year periods. Invests 100% of the portfolio in defensive assets. The most stable returns. Generally lower returns than the other options. investment strategy risk/return profile strategic asset allocation1 Australian shares International shares Property Alternative – growth Alternative – defensive Aust. fixed interest Int’l fixed interest Cash 30% 30% 6% 4% 5% 10% 10% 5% 0.80% pa. 12% 12% 6% 0% 0% 30% 30% 10% 0.46% pa. 12% 12% 6% 0% 10% 25% 25% 10% 0.70% pa. 0.46% pa. 0% 0% 0% 0% 0% 30% 30% 40% 0.55% pa. 0% 0% 0% 0% 5% 27.5% 27.5% 40% management fee 2 performance fee3 0% to 0.15% pa. Nil. 0% to 0.10% pa. Nil. 0% to 0.05% pa. 1 2 3 Asset allocations shown are strategic benchmarks. Actual allocations may vary. See Management fee in the table on page 35 for details. Provided as a range of possible outcomes. Performance fees are paid only when an investment manager or product outperforms an agreed benchmark. The fee is a small proportion of the overall outperformance and if returns fall short of benchmarks, no performance fees are paid. 13
Slide 14: invESTMEnT OPTiOnS SEcTOR Australian Shares – index objective To provide a return that closely matches the benchmark return before fees and tax. S&P/ASX 200 Accumulation Index. Fully replicates the benchmark holdings in order to closely match the benchmark risk and return characteristics. Australian Shares – Diversified To provide a return that exceeds the benchmark index (before fees and tax) by 2% pa over rolling five-year periods. S&P/ASX 300 Accumulation Index. Invests in shares listed on the Australian Stock Exchange and unlisted shares that will be listed within six months or related securities. Australian Shares – core* To provide a return that exceeds the benchmark index (before fees and tax) by 1.5% pa over rolling five-year periods. S&P/ASX 300 Accumulation Index. Invests in shares listed on the Australian Stock Exchange and unlisted shares that will be listed within six months or related securities. Australian Shares – Socially Responsible* To provide a return that exceeds the benchmark index (before fees and tax) over rolling five-year periods. S&P/ASX 300 Accumulation Index. Predominantly exposed to shares or unit trusts listed or about to be listed on the Australian Stock Exchange. In selecting shares or unit trusts, consideration is given to one or more socially responsible standards (eg social, ethical or environmental standards). Returns can be very volatile over the short to medium term. benchmark index investment strategy risk/return profile Returns can be very volatile over the short to medium term. Historically, shares have offered the highest long-term returns. 100% Australian shares. Returns can be very volatile over the short to medium term. Historically, shares have offered the highest long-term returns. 100% Australian shares. Returns can be very volatile over the short to medium term. benchmark asset allocation1 management fee2 performance fee3 100% Australian shares. 100% Australian shares. 0.45% pa. 0.90% pa. 0.80% pa. 1.32% pa. Nil. 0% to 0.35 % pa. 0% to 0.20 % pa. Nil. 1 2 3 Asset allocations shown are strategic benchmarks. Actual allocations may vary. See Management fee in the table on page 35 for details. Provided as a range of possible outcomes. Performance fees are paid only when an investment manager or product outperforms an agreed benchmark. The fee is a small proportion of the overall outperformance and if returns fall short of benchmarks, no performance fees are paid. * Option available from October 2008 – see summary on page 11. TODAY. TOMORROW. READY. 14
Slide 15: Australian Shares – Opportunities* objective To provide a return that exceeds the benchmark index (before fees and tax) by 2.5% pa over rolling five-year periods. S&P/ASX 300 Accumulation Index. Invests in shares listed on the Australian Stock Exchange and unlisted shares that will be listed within six months or related securities. Returns can be very volatile over the short to medium term. international Shares – index To provide a return that closely matches the benchmark return before fees and tax. MSCI World ex Australia Index (unhedged AUD, net dividend reinvested). Fully replicates the benchmark holdings in order to closely match the benchmark risk and return characteristics. Returns can be very volatile over the short to medium term. Historically, shares have offered the highest long-term returns. 100% international shares. international Shares – index ($A hedged) To provide a return that closely matches the benchmark return before fees and tax. MSCI World ex Australia Index (hedged AUD, net dividend reinvested). Fully replicates the benchmark holdings in order to closely match the benchmark risk and return characteristics. Returns can be very volatile over the short to medium term. Historically, shares have offered the highest long-term returns. 100% international shares. international Shares – Diversified To provide a return that exceeds the benchmark index (before fees and tax) by 1.5% pa over rolling five-year periods. MSCI World ex Australia Index (unhedged AUD, net dividend reinvested). Invests in shares listed on stockmarkets around the world with partial $A hedging (generally less than 50%). Returns can be very volatile over the short to medium term. Historically, shares have offered the highest long-term returns. 100% international shares, including emerging markets. benchmark index investment strategy risk/return profile benchmark asset allocation1 100% Australian shares including unlisted shares that will be listed within six months or related securities. 1.05% pa. management fee2 performance fee3 0.47% pa. 0.47% pa. 0.90% pa. 0% to 0.70% pa.** Nil. Nil. 0% to 0.20% pa. 1 2 3 Asset allocations shown are strategic benchmarks. Actual allocations may vary. See Management fee in the table on page 35 for details. Provided as a range of possible outcomes. Performance fees are paid only when an investment manager or product outperforms an agreed benchmark. The fee is a small proportion of the overall outperformance and if returns fall short of benchmarks, no performance fees are paid. * Option available from October 2008 – see summary on page 11. ** Three of the six managers in the fund, managing 35% of the fund, are subject to performance fees. On average, this could result in an increase in fees of approximately 0.14%. 15
Slide 16: international Shares – core* objective To provide a return that exceeds the benchmark index (before fees and tax) by 1.5% pa over rolling five-year periods. MSCI World ex Australia Index (unhedged AUD, net dividend reinvested). Invests in shares listed on stockmarkets around the world. No $A hedging. international Shares – core ($A hedged)* To provide a return that exceeds the benchmark index (before fees and tax) by 1.5% pa over rolling five-year periods. MSCI World ex Australia Index (hedged AUD, net dividend reinvested). Invests in shares listed on stockmarkets around the world. Full $A hedging. international Shares – Emerging Markets* To provide a return that exceeds the benchmark index (before fees and tax) by 2% pa over rolling five-year periods. MSCI Emerging Markets Index. Invests in shares listed on stockmarkets in emerging markets. No $A hedging. Returns can be very volatile over the short to medium term. Historically, shares have offered the highest long-term returns. 100% emerging markets. international Shares – Opportunities* To provide a return that exceeds the benchmark index (before fees and tax) by 2% pa over rolling five-year periods. MSCI World ex Australia Index (unhedged AUD, net dividend reinvested). Invests in shares listed on stockmarkets in developed and emerging markets. No $A hedging. Returns can be very volatile over the short to medium term. Historically, shares have offered the highest long-term returns. 100% international shares, including emerging markets. 1.05% pa. benchmark index investment strategy risk/return profile Returns can be very volatile over the short to medium term. Historically, shares have offered the highest long-term returns. 100% international shares including emerging markets. 0.80% pa. Returns can be very volatile over the short to medium term. Historically, shares have offered the highest long-term returns. 100% international shares, including emerging markets. 0.80% pa. benchmark asset allocation1 management fee2 performance fee3 1.15% pa. 0% to 0.35% pa. 0% to 0.35% pa. Nil. Nil. 1 2 3 Asset allocations shown are strategic benchmarks. Actual allocations may vary. See Management fee in the table on page 35 for details. Provided as a range of possible outcomes. Performance fees are paid only when an investment manager or product outperforms an agreed benchmark. The fee is a small proportion of the overall outperformance and if returns fall short of benchmarks, no performance fees are paid. * Option available from October 2008 – see summary on page 11. TODAY. TOMORROW. READY. 16
Slide 17: Property – Australian index objective To provide a return that closely matches the benchmark return before fees and tax. S&P/ASX 200 – Listed Property Accumulation Index. Fully replicates the benchmark holdings in order to closely match the benchmark return and risk characteristics. Property – Diversified To provide a return that exceeds the benchmark index (before fees and tax) over rolling five-year periods. Combination of Australian listed, direct and global listed indices. Invests in property securities listed, or due to be listed, on the Australian Stock Exchange and developed international markets exchanges, and direct property holdings. Returns can be volatile over the short to medium term. Historically, property has produced higher returns than fixed interest and cash investments. 50% Australian property securities. 25% direct property. 25% global listed property. Property – Direct To provide a return that exceeds the benchmark index (before fees and tax) over rolling three-year periods. 10-year bond yield + 3%. Property – Global listed ($A hedged)* To provide a return that exceeds the benchmark index (before fees and tax) by 1.75% pa over rolling five-year periods. FTSE EPRA/NAREIT Global Real Estate Net Index – $A Hedged. Invests in property trusts and property related securities listed on developed international markets. benchmark index investment strategy Invests in high quality Australian property. risk/return profile Returns can be volatile over the short to medium term. Historically, property has produced higher returns than fixed interest and cash investments. 100% Australian property securities. Returns can be volatile over the short to medium term. Historically, property has produced higher returns than fixed interest and cash investments. 90–100% direct property. 0–10% cash. Returns can be volatile over the short to medium term. Historically, property has produced higher returns than fixed interest and cash investments. 100% global listed property. benchmark asset allocation1 management fee2 performance fee3 0.44% pa. 0.73% pa. 1.07% pa. 1.00% pa. Nil. Nil. Nil. Nil. 1 2 3 Asset allocations shown are strategic benchmarks. Actual allocations may vary. See Management fee in the table on page 35 for details. Provided as a range of possible outcomes. Performance fees are paid only when an investment manager or product outperforms an agreed benchmark. The fee is a small proportion of the overall outperformance and if returns fall short of benchmarks, no performance fees are paid. * Option available from October 2008 – see summary on page 11. 17
Slide 18: Alternative – Diversified objective To provide a return that exceeds the benchmark index (before fees and tax) by 2.5% pa over rolling five-year periods. UBS Warburg Australian Bank Bill Index. fixed interest – Australian index To provide a return that closely matches the benchmark return before fees and tax. UBS Australian Composite Bond Index. fixed interest – international index ($A hedged) To provide a return that closely matches the benchmark return before fees and tax. Citigroup WGBI ex Aust, 100% hedged to AUD. fixed interest – Diversified To provide a return that exceeds the benchmark index (before fees and tax) by 0.6% pa over rolling three-year periods. 50% UBS Australian Composite Bond Index 0+Yr. 50% Lehmann Brothers Global Aggregate Index ($A – Hedged). benchmark index investment strategy Invests in non-traditional assets such as infrastructure, commodities, hedge funds with some cash for liquidity. Uses index sampling techniques to approximate the benchmark in a range of key risk areas. Uses index sampling techniques to approximate the benchmark in a range of key risk areas. Foreign exchange contracts are used to hedge current exposures to Australian dollars. Relatively low but stable returns with some volatility. 100% international fixed interest. Invests in fixed interest assets across the credit spectrum both in Australia and internationally. risk/return profile Returns are consistent in the medium term and typically uncorrelated with traditional asset classes. 40% multi-strategy. 25% infrastructure. 25% commodities. 10% cash-enhanced. Relatively low but stable returns with some volatility. 100% Australian fixed interest. Relatively low but stable returns with some volatility. 50% Australian fixed interest. 50% international fixed interest. benchmark asset allocation1 management fee2 performance fee3 1.10% pa. 0.45% pa. 0.47% pa. 0.60% pa. 0% to 0.40% pa. Nil. Nil. Nil. 1 2 3 Asset allocations shown are strategic benchmarks. Actual allocations may vary. See Management fee in the table on page 35 for details. Provided as a range of possible outcomes. Performance fees are paid only when an investment manager or product outperforms an agreed benchmark. The fee is a small proportion of the overall outperformance and if returns fall short of benchmarks, no performance fees are paid. TODAY. TOMORROW. READY. 18
Slide 19: fixed interest – Australian* objective To provide a return that exceeds the benchmark index (before fees and tax) by 0.5% pa over rolling three-year periods. fixed interest – international ($A hedged)* To provide a return that exceeds the benchmark index (before fees and tax) by 0.75% pa over rolling three-year periods. cash Diversified – Maple-Brown Abbott To provide a return that exceeds the average of other similar balanced funds (as measured by the benchmark index and before fees and tax) over rolling three-year periods. S&P Multi-sector 80 Wholesale Index. Invests in various asset classes and applies an active value-based style to select securities within each class. Tactical asset allocation changes are implemented using a value-based style. May outperform/ underperform in the short term but volatility is relatively low over the long term. 45% Australian shares. 15% international shares. 10% property. 20% fixed interest. 10% cash. To provide a return that matches or exceeds the benchmark index (before fees and tax) over any 12-month period. benchmark index investment strategy UBS Australian Composite Bond Index. Invests predominantly in Australian fixed interest assets with the scope to invest across the credit spectrum both domestically and internationally. Lehman Bros Global Aggregate – $A Hedged. Invests in fixed interest assets across the credit spectrum internationally. UBS Warburg Australia Bank Bill Index. Invests in short-term securities. risk/return profile Relatively low but stable returns with some volatility. Relatively low but stable returns with some volatility. Low but stable returns with minimal volatility. benchmark asset allocation1 100% Australian fixed Interest. 100% international fixed Interest. 100% cash and short-term fixed interest securities. management fee 2 0.60% pa. 0.60% pa. 0.43% pa. 1.10% pa. performance fee3 Nil. Nil. Nil. Nil. 1 2 3 Asset allocations shown are strategic benchmarks. Actual allocations may vary. See Management fee in the table on page 35 for details. Provided as a range of possible outcomes. Performance fees are paid only when an investment manager or product outperforms an agreed benchmark. The fee is a small proportion of the overall outperformance and if returns fall short of benchmarks, no performance fees are paid. * Option available from October 2008 – see summary on page 11. 19
Slide 20: infORMATiOn On SRi OPTiOn ThE AOn MASTER TRuST invESTS in ThE RuSSEll SOciAllY RESPOnSiBlE AuSTRAliAn ShARES PST Which uSES ThE BT WhOlESAlE EThicAl ShARE funD. PlEASE nOTE ThAT ThE TRuSTEE AnD RuSSEll invESTMEnT MAnAGEMEnT RESERvE ThE RiGhT TO chAnGE MAnAGERS AT AnY TiME WiThOuT PRiOR nOTicE. The following is an excerpt from BT’s Product Disclosure Statement for their Wholesale Ethical Share Fund (19 October 2007). note The term ‘we’ in the excerpt below refers to BT Investment Management (RE) Limited, as the underlying investment manager for BT’s Wholesale Ethical Share Fund and the term ‘Fund’ refers to BT’s Wholesale Ethical Share Fund. labour, environmental, social and ethical considerations We take labour standards, environmental, social and ethical considerations into account, as well as key financial criteria, when selecting, retaining or realising investments of the Fund. Investment guidelines relating to labour standards and environmental, social and ethical considerations are reviewed regularly (usually monthly, but this timeframe is not fixed). If our review process identifies that an investment ceases to comply with the investment guidelines for the Fund, the investment will usually be sold as soon as is reasonably practicable, having regard to the interests of investors (but this may vary on a case by case basis). Investments of the Fund are: º negatively screened for companies involved in uranium, alcohol, tobacco, gaming products and weapons and companies with environmental or human rights prosecutions; and positively screened for companies with a ‘sustainable’ approach to the production of goods or services. The sustainability criteria employed includes areas such as environmental issues, employment practices, and corporate governance and ethics. We will particularly be seeking out initial public offerings of companies which we believe rate well on our criteria. definitions of screens Negative screening means that we exclude companies which do not meet our criteria as set out below. Negative screens are used to exclude companies as follows: º º º º º Uranium: companies which directly mine uranium for the purpose of weapons manufacture. Weapons: manufacturers of weapons and armaments. Alcohol and tobacco: producers of these products. Gaming: manufacturers and providers of gaming facilities. Environment: companies that have committed significant or recurrent environmental offences within the last three years, or have been successfully prosecuted and required to provide remedies within the last year. Environmental offences are offences which have been prosecuted by Australian State environmental protection agencies and which have been drawn to our attention by various international monitoring agencies, media reports or a company’s own voluntary disclosures as well as those which have been looked into by local governmental authorities. Human rights: companies that have breached human rights, anti-discrimination or equal opportunity legislation within the last three years, or which have been required to pay compensation or provide remedies for such breaches within the last year. Breaches of human rights are taken to be breaches where cases have been found against companies by the United Nations Human Rights Committee, the Commonwealth Human Rights and Equal Opportunity Commission, Australian State Antidiscrimination and Equal Opportunity tribunals and various international forums on corporate performance regarding human rights. º º TODAY. TOMORROW. READY. 20
Slide 21: Positive screening means that we actively identify companies that meet our specific criteria in ‘sustainable’ products and services. This includes companies which rate well based on our valuation driven process but also offer products or services which meet one or more of the following: º Provide or enact some environmental and/or social benefits through management and/or remediation of environmental resources (eg clean technology, waste and emission reduction, waste management reduction and recycling systems, technologies and services). Demonstrate or enable reduced adverse environmental and social impacts (including consumption of scarce resources) relative to currently used products or services (covering a range of specialised industry sections including Material Efficiency Development and improved management of scarce resources). Companies exhibiting good work place practices. In assessing this we have regard to labour standards, particularly: > Occupational health and safety. We consider the manner in which a company deals with its workforce to be a key driver to longterm sustainability. We assess a company’s performance by its approach relevant State and Territory occupational health and safety legislation, as well as its willingness to submit to the rigours of national and international standards that relate to the workplace, such as Australian Standard AS4801 (‘Occupational Health and Safety Management Systems’). > Human resource management and workplace relations. This encompasses a company’s responsibilities to its own employees in terms of human resource issues. We assess a company’s performance by monitoring regulatory compliance (including industrial disputes and human rights and equal opportunity applications), but this analysis also focuses more broadly on a range of qualitative criteria including equal opportunity, consultation and participation in the workplace. > Established corporate governance procedures and ethics. We consider that a company’s corporate governance procedures and ethics is of fundamental importance to its long-term sustainability. This analysis focuses on: – The manner in which organisational values are established, embraced and reported both within and outside an organisation (eg clear and coherent codes of conduct and compliance with corporate governance standards); and – The way in which these values are reflected in the company’s management processes (eg policies regarding director share ownership, remuneration procedures and forwardlooking succession planning). Examples of companies that rate well based on our valuation driven process and which also offer products or services that meet one or more of our criteria include: º º º º renewable energy sustainable agribusiness ecotourism information and other technologies, including biotechnologies, medical technologies, healthcare products and services products exhibiting increased recyclability, reusability and reduced resource use, including energy and waste creation. º º º more information The above extract from the BT Product Disclosure Statement (PDS) for the Wholesale Ethical Share Fund is subject to the additional information and qualifications contained in the PDS and investors should read the entire PDS. Visit btim.com.au for more information on BT’s socially responsible investments or a copy of the Fund’s PDS and factsheet. consent BT Investment Management (RE) Limited (BTIM) have consented to this PDS containing the above excerpt from the relevant PDS, accept responsibility for the accuracy of the statements and have not withdrawn their consent. They are not responsible for any other statements regarding this investment in the Aon Master Trust Corporate Super PDS. 21
Slide 22: inSuRAncE OPTiOnS ThiS SEcTiOn SuMMARiSES ThE TERMS AnD cOnDiTiOnS APPlYinG TO MEMBERS Of AOn MASTER TRuST cORPORATE SuPER WhO ARE inSuRED ThROuGh An AiG lifE GROuP inSuRAncE POlicY. Minimum death and TPD cover Age Up to 42 43 Minimum cover $210,000 $197,400 $184,800 $172,200 $159,600 $147,000 $134,400 $121,800 $109,200 $96,600 $84,000 $71,400 $58,800 $46,200 $41,580 $36,960 $32,340 $27,720 $23,100 $18,480 $13,860 $9,240 $4,600 $0 cover and eligibility The insurance cover and premiums shown in this PDS are available only to members who join Aon Master Trust Corporate Super on or after 1 July 2008. Terms and conditions under insurance policies may vary from time to time. Please refer to the policy documents for full details of the terms and conditions that will apply. 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 types of insurance available The following insurance cover is available though the Trust: º º º death death and total and permanent disablement (TPD) income protection. Details of each of these benefits and the conditions that apply are set out on pages 25 to 31. employer plan cover Your employer will determine the type of insurance and level of cover and the way it is calculated. Cover is subject to acceptance by the insurer. The minimum level of death and TPD cover provided under employer plan cover is usually $210,000. This minimum cover reduces from $210,000 at age 42 to nil at age 65 – see the table opposite and graph below. Details of your insurance cover will be included in Your Plan Outline. $210,000 Minimum cover $157,500 $105,000 $52,500 TODAY. TOMORROW. READY. 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 0 Age 22
Slide 23: selecting the cover that suits you and your personal circumstances You can choose the type of insurance and level of cover on joining the Trust and change it to suit your needs at any time. automatic acceptance levels and evidence of insurability An automatic acceptance level (AAL) is an amount of insurance cover that may apply without the member providing evidence of health, providing you join the Trust when first eligible and are under age 65. Any member’s insurance cover which exceeds the plan’s automatic acceptance level or any member who joins outside of the eligibility conditions will need to provide evidence of health and be subject to acceptance by the insurer. Please refer to Your Plan Outline for details of any AALs that may apply to your insurance cover. opting out You can opt out of insurance cover at any time by notifying the trustee in writing. However, you need to be aware that any future applications for insurance cover will be subject to providing health evidence for consideration and acceptance by the insurer. increasing cover (voluntary) You can apply to increase your level of cover at any time. This increased insurance cover is regarded as ‘voluntary’. You will need to provide health evidence and this increase in insurance cover will be subject to acceptance by the insurer. insurance premiums The cost of insurance depends on the type and level of cover, your age, gender (for income protection), occupation category and any premium loadings that may apply. Occupations are broadly categorised according to the table on the next page. Your insurance premium is calculated on your individual occupation category or a collective occupation category negotiated by your employer and as agreed by the insurer. Please refer to Your Plan Outline for your insurance premium details. reducing or fixing cover (voluntary) You can reduce or fix your level of cover at a dollar amount at any time by notifying the trustee in writing. The reduced or fixed level cover is regarded as ’voluntary’ cover. interim cover While your application for death or TPD insurance is being assessed by the insurer you will be provided with interim ‘accidental death’ cover. This cover will remain in place until: º º your application is either accepted or rejected by the insurer, or 90 days from the date of receiving your application, minimum death and TPD insurance cover The minimum level of cover will be increased each year by 5% or in line with increases in the Consumer Price Index (CPI) – whichever is higher. whichever occurs first. The maximum benefit in this case is the lesser of the death insurance applied for and $1 million. There is no interim cover in respect of TPD insurance. 23
Slide 24: category Professional occupation Professionals, executives and senior management with tertiary qualifications and high incomes such as CEO, CFO, CPA, lawyer, doctor, pharmacist etc. Occupations that are office based with no manual work, eg clerical roles, professional or administrative roles such as architect, accountant, computer analyst, lecturer, social worker, administrator, clerk etc. Occupations which are primarily nonmanual but may involve light manual duties only, such as hairdresser, shop assistant, florist, cashier, tailor etc. Occupations that involve a moderate degree of manual work, or recognised qualified trades, such as baker, gasfitter, electrician, mechanic, printer, signwriter, greengrocer etc. Heavy manual occupations or those with a degree of additional risk of disability, such as boilermaker, gardener, storeman, tyre fitter, welder etc. A common occupational rating that is applied to all members in an employer plan – this rate is determined by the insurer, using a rating which represents the overall occupational profile of the employer plan. Depending on your actual occupational duties, you may not be eligible for some types of insurance cover. This is at the insurer’s discretion. If the trustee has not been advised of your occupation, your occupation may be classified for insurance purposes as ‘Heavy blue collar’. White collar transferring existing cover Eligible members can apply to transfer insurance cover they have in other super funds or retail policies into the Aon Master Trust, with no health evidence required. This includes cover for death, total and permanent disablement and income protection. This transferred cover will be considered ‘voluntary’ cover and is in addition to any employer plan cover. A statutory duty of disclosure is required and members who apply must make a declaration to this effect. For eligibility and other conditions, see the Individual insurance transfer questionnaire. Forms are available on our website Grey collar Blue collar Heavy blue collar aonmastertrust.com.au. Collective occupation note Transfer of external insurance cover to the Aon Master Trust is subject to acceptance by the insurer. TODAY. TOMORROW. READY. 24
Slide 25: death insurance Death cover provides an insurance payout of your amount insured (up to $5 million), subject to approval by the insurer and the trustee, if you die. The death benefit will usually be paid to your dependants or beneficiaries – see page 30. This cover is subject to conditions including, but not limited to: º º º you must apply for continuation of insurance cover within 60 days of leaving a participating employer no claim for insurance has been made on the Trust cover will not exceed your amount insured on the day prior to the date you leave your employer. when death cover ceases Death insurance cover ceases on the earliest date that any of the following apply: º º º º º º º º º you turn age 70 60 days after premium payments cease the Trust’s policy with the insurer is terminated you request cancellation of cover in writing we receive from you and accept a continuation option application for death-only cover you leave the Trust as a result of total and permanent disablement 60 days after you cease to be a member of the Trust you die as specified in General conditions on page 30. exclusions The death policy excludes: º death from suicide that occurs within 13 months of effecting any voluntary increase in insurance cover. It is only the increased amount that is not payable under these circumstances active service in the armed forces of any country or international organisation any other underwriting exclusion imposed by the insurer. º º transferring cover to Personal Super If you are under age 65 and you choose to transfer to Aon Master Trust Personal Super, transfer of death cover is automatic* and no application or health evidence is required. Premiums automatically continue to be deducted. * See conditions on page 31. continuation option If you: º º º º are under age 65 have death insurance in the Trust leave your employer, and cease to be a member of the Trust for reasons other than illness or injury, you may be able to purchase continuing death insurance cover from the insurer of the Trust without the need for further health evidence, although you will be required to complete an AIDS declaration. Different premium rates will apply if you elect to exercise this continuation option. 25
Slide 26: total and permanent disablement (TPD) insurance Total and permanent disablement cover provides an insurance payout of your amount insured (up to $2 million), subject to approval by the insurer and the trustee, if you become totally and permanently disabled before age 65, in accordance with the applicable TPD definition – see below. If you were working less than 15 hours per week when you stopped work due to an illness or injury, you are considered totally and permanently disabled if while insured under the policy: º for six consecutive months after the occurrence of the illness or injury, and as certified by a medical practitioner, you have been unable to perform at least two of the following activities of daily living without the standby assistance of another person: bathing, dressing, eating , toileting or transferring (in and out of a chair) standard definitions of TPD The definition will depend on your employment status and occupation at the time you stopped work due to an illness or injury. If you were working 15 hours or more per week when you stopped work due to an illness or injury, you are considered totally and permanently disabled if while insured under the policy: º you have been unable to perform your usual occupation due to that illness or injury for six consecutive months, and the insurer and the trustee are satisfied by medical and any other relevant evidence that you are unlikely to ever be able to return to your usual occupation or any occupation for which you are reasonably suited by education, training or experience OR º you have suffered the permanent loss of use of two limbs, or the permanent loss of sight of both eyes, or the permanent loss of use of one limb and permanent loss of sight of one eye. when TPD cover ceases TPD insurance cover ceases on the earliest date that any of the following apply: º º º º º º º º º you turn age 65 a benefit under your policy is paid or is payable to you 60 days after premium payments cease the Trust’s policy with the insurer is terminated you request cancellation of cover in writing we receive from you and accept a continuation option application for TPD cover 60 days after you cease to be a member of the Trust you die as specified in General conditions on page 30. OR º you have suffered the permanent loss of use of two limbs, or the permanent loss of sight of both eyes, or the permanent loss of use of one limb and permanent loss of sight of one eye. TPD benefits TPD benefits are paid exclusive to any claim made under your income protection insurance cover (if any). TODAY. TOMORROW. READY. 26
Slide 27: continuation option If you: º º º º º are under age 60 have TPD insurance in the Trust leave your employer are continuing in the same or similar occupation, and cease to be a member of the Trust for reasons other than illness or injury, exclusions The TPD policy excludes: º disablement directly or indirectly, wholly or partly caused by intentional self-inflicted injury or any such attempt by you whether sane or insane active service in the armed forces of any country or international organisation any other underwriting exclusion imposed by the insurer. º º you may be able to purchase continuing TPD insurance cover from the insurer of the Trust without the need for further health evidence, although you will be required to complete an AIDS declaration. Different premium rates will apply if you elect to exercise this continuation option. This cover is subject to conditions including, but not limited to: º º º you must apply for continuation of insurance cover within 60 days of leaving a participating employer no claim for insurance has been made on the Trust cover will not exceed your amount insured on the day prior to the date you leave your employer. increasing TPD cover You can apply to have TPD cover that is higher than your death cover subject to a maximum of twice the death cover and a maximum difference between TPD and death cover of $100,000. The insurer may require medical and other evidence. You will pay an additional 20% on the premium rate applying to the amount of TPD cover over the death cover amount. transferring cover to Personal Super If you are under age 60 and you choose to transfer to Aon Master Trust Personal Super, transfer of TPD cover is automatic* and no application or health evidence is required. Premiums automatically continue to be deducted. * See conditions on page 31. 27
Slide 28: income protection insurance Income protection insurance (also know as salary continuance) is available if you work 15 or more hours per week (excluding casuals). This cover can provide you with an income in the event of total disability due to illness or injury. You can receive up to 75% of your pre-disability income or the amount insured whichever is the lesser (subject to a maximum of $20,000 a month). Your employer will determine the waiting period that will apply before the benefit is payable (30, 60 or 90 days) and the minimum period the benefit will be paid: º º º up to two years up to five years to age 65. partial disability payment A partial disability benefit may be payable if you continue to be partially disabled beyond the waiting period and have been totally disabled for a period of at least 14 consecutive days during the waiting period. Partial disability means that solely because of the illness or injury which directly caused the total disability, you: º are able to perform at least one important duty* of your usual occupation but are unable to perform all of the duties of your usual occupation are earning an income from your usual occupation or another occupation at a rate of less than 75% of your monthly pre-disability income, and remain under the regular care and attendance and are following the advice of a registered medical practitioner in relation to that illness or injury. º º Income protection benefits are paid monthly in arrears, after the expiry of the waiting period. They cease on the earliest date that you reach age 65, you die, you no longer satisfy the policy’s total or partial disability definitions, or you reach the applicable maximum benefit period. * An important duty is defined as involving at least 20% of overall occupational tasks responsible for generating at least 20% of your pre-disability income. claims escalation benefit Where the maximum benefit period of up to five years or to age 65 applies to your income protection insurance, your benefit will increase annually by the lower of 5% or the increase in the Consumer Price Index (as determined by the insurer). This will occur one year after your income protection benefits commenced (after the expiration of your waiting period) and annually thereafter. total disability payment An income protection benefit is payable if you have been off work due to illness or injury for the entire waiting period and the insurer and trustee are satisfied by medical and any other relevant evidence that your disablement occurs solely from illness or injury while you are insured and as a result of which you: º º are unable to perform at least one important duty* of your usual occupation necessary to produce income remain under the regular care and attendance and are following the advice of a registered medical practitioner in relation to that illness or injury, and are not engaged in any occupation (whether paid or unpaid). income protection benefit offsets If any other benefits are payable to you for loss of income, the income protection insurance benefit paid may be reduced so total benefits paid do not exceed 75% of pre-disability income (excluding mandated superannuation contributions, if any). Other income that will reduce your income protection benefits includes: º º º º º º º workers’ compensation motor accident compensation social security benefits income protection insurance benefits from other insurance policies any paid sick leave entitlements other ongoing income generated from ownership in a business or practice, and ongoing payments from an employer. º * An important duty is defined as involving at least 20% of overall occupational tasks responsible for generating at least 20% of your pre-disability income. TODAY. TOMORROW. READY. 28
Slide 29: when income protection cover ceases Income protection insurance cover ceases on the earliest date that any of the following apply: º º º º º º you turn age 65 60 days after premium payments cease the Trust’s policy with the insurer is terminated you request cancellation of cover in writing you are no longer permanently and gainfully employed for 15 hours or more per week the date you cease to be employed by a participating employer of the Trust, unless you are accepted for continuing income protection insurance after transfer to Aon Master Trust Personal Super you cease to be a member of the Trust you die as specified in General conditions on page 30. exclusions The income protection policy excludes: º º º º º intentionally self-inflicted injury or attempted suicide or self-destruction whether sane or insane uncomplicated pregnancy, childbirth or miscarriage declared or undeclared act of war active service in the armed forces of any country or international organisation any other underwriting exclusion imposed by the insurer. income protection Benefits are paid exclusive to any claim made under your TPD cover (if any). º º º transferring cover to Personal Super If you are under age 65 and transfer to Personal Super, you may apply within 60 days of leaving your employer to continue income protection insurance in Personal Super. You will be required to confirm your occupation, your continued employment and that you meet the minimum work hours requirement. You will also be required to complete an AIDS declaration. 29
Slide 30: general conditions leave without pay Aon Master Trust Corporate Super members are covered during periods of leave without pay approved by the employer in writing (including maternity/paternity leave). Death cover continues indefinitely as long as the premium continues to be paid for the period. Members with TPD or income protection insurance are covered during periods of leave without pay approved by the employer in writing (including maternity/paternity leave) for periods of up to 12 months, as long as the premium continues to be paid for the period. There must be documented evidence of an agreed return to work date and you must return to work within 30 days of the agreed date. cover while out of Australia Normally your insurance cover will continue if you are permanently and gainfully employed and travelling or holidaying overseas*. If you are seconded and working overseas*, insurance cover will continue for a period of up to five years (or longer with prior approval from the insurer). Note also that if the insurer is not satisfied as to the assessment of a claim being made overseas, they reserve the right to request your return to Australia (at your own expense) for claims assessment and examination prior to payment of any benefits. * If, any of the overseas countries/regions you visit have been issued with a level 4 or 5 travel advice by the Department of Foreign Affairs and Trade (DFAT) at the time you leave Australia, cover will not continue while you are in that country/region. your beneficiaries/dependants Unless you have made a binding death benefit nomination, the trustee decides who should receive your death benefit according to the terms of the Trust Deed. The Aon Master Trust Deed requires the trustee to pay death benefits to ‘eligible dependants’ under superannuation law, which can be a spouse, child, financial dependant or someone in an interdependency relationship with you. If there are no identified dependants, the death benefit is normally paid to your legal personal representative. You can make either binding or non-binding death benefit nomination on your accounts in the Aon Master Trust. See Death benefit nominations on page 43 for more information. duty of disclosure Before you enter into a contract of life insurance with an insurer, you have a duty under the Insurance Contracts Act 1984 to disclose to the insurer every matter that you know, or could reasonably be expected to know, which is relevant to the insurer’s decision whether to accept the risk of insurance and, if so, on what terms. You have the same duty to disclose those matters to the insurer before you renew, extend, vary, transfer or reinstate a contract of insurance. If you fail to comply with your duty of disclosure and the insurer would not have entered into the contract on any terms if the failure had not occurred, the insurer may avoid the contract within three years of entering into it. If your non-disclosure is fraudulent, the insurer may avoid the contract at any time. An insurer who is entitled to avoid a contract of life insurance may, within three years of entering into it, elect not to avoid it but to reduce the sum that you have been insured for in accordance with a formula that takes into account the premium that would have been payable if you had disclosed all relevant matters to the insurer. privacy For information about your privacy as it relates to insurance arrangements with AIG Life, a full copy of their privacy statement is available on their website at aiglife.com.au note See page 41 for information on permanent incapacity and page 33 for terminal illness benefits. TODAY. TOMORROW. READY. 30
Slide 31: insurance when you cease employment on transfer to Aon Master Trust Personal Super If you terminate employment, and your account balance is $5,000 or more, you will be transferred to Aon Master Trust Personal Super after 60 days from the date we send you your benefit advice letter, unless you advise us otherwise. If you are under age 65 (death) or under age 60 (TPD) your death and TPD cover (if any) will continue automatically and your premiums will be calculated using the same occupation category you held in Corporate Super. It is important for you to advise us if your occupation category changes.* * If a higher risk occupation or an uninsurable occupation applies at the time a claim is made, additional premiums may be deducted from any benefit paid or the insurer may reduce or decline the benefit. other circumstances If you terminate employment and your death and TPD insurance does not automatically transfer to Aon Master Trust Personal Super, you may be able to purchase continuing death and TPD insurance cover from the insurer without further health evidence. You will need to apply within 60 days of terminating employment in the Aon Master Trust. Conditions apply – see Continuation option on pages 25 and 27. Different premium rates will apply and all applications will be subject to acceptance and approval and any additional conditions that the insurer may choose to impose. note If you transfer to Personal Super and are under age 65, you can apply to continue income protection insurance in Personal Super, but you must apply within 60 days of leaving your employer. You must confirm your occupation, your continued employment and that you meet the minimum work hours requirement by completing a Continuing income protection insurance form. You will also need to complete an AIDS declaration. on transfer to the Aon Eligible Rollover fund If you terminate employment, and your account balance is less than $5,000, you will be transferred to the Aon Eligible Rollover Fund 60 days after the date we send you your benefit advice letter, unless you advise us otherwise. All insurance cover and premium deductions will cease and you will cease to be a member of the Aon Master Trust – see page 40. 31
Slide 32: TAx AnD SuPER tax on concessional contributions Concessional contributions are taxed at a rate of 15% in the Trust. Amounts over the contribution cap will be effectively taxed at the highest marginal tax rate plus Medicare levy. Contributions above the concessional cap will count towards the non-concessional cap. For more information on the contribution cap refer to page 8. SuPER cAn BE A TAx-EffEcTivE WAY fOR YOu TO SAvE. ThiS SEcTiOn PROviDES A BRiEf SuMMARY Of hOW SuPER iS TAxED AS AT 1 JulY 2008. a summary providing your tax file number The trustee must request your tax file number (TFN) under the provisions of the Superannuation Industry (Supervision) Act 1993. Where you make a TFN declaration to an employer, this is taken to be an authority for the employer to quote the TFN to the superannuation fund to which the employer makes contributions on your behalf. You are not obliged to supply your TFN, but if you do you will: º º º be entitled to concessional rates of tax on your benefit aid the smooth transfer of benefits when you roll over from one fund to another make it easier to locate or consolidate your benefits in a fund. tax on investment earnings Complying superannuation funds are taxed on investment earnings at a lower rate than most types of investment. Tax of up to 15% is deducted from the investment earnings of the Trust. spouse contribution splitting You may split or transfer your concessional contributions to your spouse. The maximum amount of concessional contributions that can be split is the lesser of: º º 85% of the total concessional contributions, or the concessional contribution cap for the financial year. A spouse is defined as a married or de facto partner of the opposite sex. Same sex couples are not currently eligible. An $80 withdrawal fee is charged to your account for each spouse split payment (maximum once a year). Non-concessional contributions cannot be split with your spouse. If the trustee does not hold your TFN: º º we cannot accept non-concessional contributions on your behalf for accounts opened on or after 1 July 2007, the top marginal tax rate plus Medicare levy will be applied to all concessional contributions. Consequences of failing to provide a TFN may change in future. The trustee will treat your TFN confidentially and use it for legal purposes only – for example, applying the concessional tax rate to benefit payments, providing information to the Commissioner of Taxation, providing the number to a rollover fund and finding or identifying your benefits. tax rebates for spouse contributions If your spouse earns less than $13,800 a year (including reportable fringe benefits) and you make spouse contributions for them, you may be eligible for a tax rebate of up to $540 a year. The amount of spouse contributions is unlimited, but the maximum rebate is 18% of $3,000 (ie $540). The rebate is reduced if your spouse earns over $10,800 and phases out completely if they earn over $13,800 a year. You can claim the rebate on your tax return for the year in which the contribution is made. A non-concessional contribution cap applies to the receiving spouse. TODAY. TOMORROW. READY. 32
Slide 33: tax when you access your super Generally, you may only access your super when you retire – see Accessing your super benefits on page 39. You defer your tax when rolling over your benefits within the super system (including purchasing retirement income streams). Different tax rules apply to income received from retirement income streams – see the Aon Master Trust Pension PDS for more information. tax on death benefits Tax on death benefits varies according to who receives the benefit and how it is paid. Lump sum death benefits are tax-free if paid to a spouse, a child under the age of 18, or any person financially dependent on you or in an interdependency relationship with you. Lump sum death benefits paid to a non-dependant are taxed at 15% on the taxable component, plus Medicare or any other government levy. If a death benefit is paid to your legal personal representative (your estate), they will be responsible for withholding the appropriate level of tax for the final beneficiary. Please see page 43 for anti-detriment tax refunds for eligible dependants. lump sum tax rates components tax-exempt taxable tax treatment tax-free under age 55: 21.5% (inclusive of Medicare levy) aged 55 to 59: first $145,000* tax-free and remainder taxed at 16.5% (inclusive of Medicare levy) aged 60 or over: tax-free tax on total and permanent disablement (TPD) benefits Generally if you are under 60 and you receive a TPD benefit, the part of the benefit representing service up to the date of disablement is taxed as a lump sum. The part of the benefit that relates to projected service from the date of your disablement to age 65 is tax free if you qualify for invalidity under tax legislation. If you are aged 60 or over the benefit is tax-free. * This amount applies in 2008/09 and is indexed each financial year in line with AWOTE in increments of $5,000 (rounded down). If you are thinking of retiring or accessing your super, we recommend you contact an adviser as soon as possible to discuss your options. If you do not have an adviser but would like to be put in touch with one, please call us on 1300 880 588. terminal illness If you suffer from an illness or have incurred an injury that could result in death within a 12-month period (commencing from the date of medical certification provided to the trustee) you may be eligible to receive your super benefits even if you are employed. If you meet terminal illness provisions, you may receive tax concessions on your super benefit. information Taxation laws may change as a result of government legislation. Call the Australian Taxation Office on 13 10 20, visit ato.gov.au/super or talk to an adviser for the latest information. 33
Slide 34: fEES AnD OThER cOSTS ThE WARninG BElOW iS REquiRED unDER AuSTRAliAn lAW. SPEcific infORMATiOn ABOuT fEES AnD cOSTS iS cOnSiDERED On ThE fOllOWinG PAGES Of ThiS DOcuMEnT. This document shows fees and other costs that you may be charged. These fees and costs may be deducted from: º º º your money (account balance), the returns on your investment, or the Trust assets as a whole. did you know? Small differences in both investment performance and fees and costs can have a substantial impact on your long term returns. For example, total annual fees and costs of 2% of your fund balance rather than 1% could reduce your final return by up to 20% over a 30 year period (for example, reduce it from $100,000 to $80,000). You should consider whether features such as superior investment performance or the provision of better member services justify higher fees and costs. You may be able to negotiate to pay lower contribution fees and management costs where applicable. Ask the fund or your financial adviser. Insurance costs, administration asset fees and any other variations are set out in Your Plan Outline. You should read all of the information about fees and costs because it is important to understand their impact on your investment. Fees and costs for particular investment options are shown on pages 12 to 19. Member fees, asset administration fees and adviser fees (if any) are deducted directly from your account. Other management fees are deducted from the Trust’s investment return. All fees paid are shown on your annual benefit statement. Any exit fees charged to your benefit payment when you leave the Trust will be shown on your exit statement. to find out more If you would like to find out more, or see the impact of the fees based on your own circumstances, the Australian Securities and Investments Commission (ASIC) website (www.fido.asic.gov.au) has a superannuation calculator to help you check out different fee options. TODAY. TOMORROW. READY. 34
Slide 35: Your employer may have negotiated different fees than those shown below. check Your Plan Outline for details. type of fee or cost fees when your money moves in or out of the fund establishment fee The fee to open your investment Nil Not applicable amount how and when paid contribution fee1 The fee on each amount contributed to your investment, either by you or your employer as negotiated with your adviser if applicable Nil Not applicable transfer fee1 The fee on each amount transferred to your investment by you as negotiated with your adviser if applicable Nil Not applicable withdrawal fee The fee on each amount you take out of your investment, including any spouse split payments and family law payments per person $80 Deducted from the benefit payment when it is paid termination fee The fee to close your investment Nil Not applicable management costs member fee The fee for administering your member account $63 pa Deducted from your account monthly asset administration fee The fee for administering your assets/investments, as negotiated with your employer Up to 1.1% pa of your account balance. Deducted from your account monthly, the fee is calculated using your account balance at the end of each month Deducted from the Trust’s investment earnings before the unit price is calculated and applied to your account. These fees vary for each investment option and can change each year management fee Calculated using an Indirect Cost Ratio (ICR)2. This fee covers the cost of managing your investments and includes investment management fees, custodial fees and cost recoveries The amount you pay for specific investment options is shown on pages 12 to 19 The fee varies according to your chosen investment option(s) and ranges from 0.43% pa to 1.32% pa plus any performance fees which may be earned service fees adviser service fee3 A fee for planning and financial advice, as negotiated with your adviser, if applicable Asset-based fee up to 2% pa (ongoing), or fixeddollar fee up to $10,000 pa (ongoing or ad hoc) Nil Deducted from your account monthly (ongoing fees) or as a one-off amount (ad hoc). The asset-based fee is calculated using your account balance at the end of each month Not applicable investment switching fee A fee for changing your investment options buy/sell spread The fee or transaction costs involved with buying and selling specific investments 1 2 Nil No buy/sell spreads currently apply If your employer joined the Trust before 1 July 2006, fees may differ from those shown. See Your Plan Outline for actual fees charged. ICR is the ratio of the Trust’s total management costs not deducted directly from member accounts and is expressed as a percentage of the Trust’s total average net assets in each investment option. The ICR for each investment option (shown as management fees on pages 12 to 19) varies according to the associated cost. See page 37 for details on adviser remuneration. 3 35
Slide 36: example of annual fees and costs The table below gives an example of how the fees and costs in the Pre-mixed Balanced – Index option can affect your superannuation investment over a one-year period. You can use this table to compare the Trust with other superannuation products. (This example ignores the effect of contributions, earnings, tax and other deductions on the account balance, and their impact on management costs.) checking your transactions You can check the transactions in and out of your account at any time by logging into your online account at aonmastertrust.com.au. You will need your user name and password. If you have forgotten them contact us at contactcentre@aon.com.au or call 1300 880 588 and we will help you get online. ExAMPlE – Pre-mixed Balanced – index investment contribution fees / Transfer fees PluS Management costs 0% BAlAncE Of $50,000 WiTh TOTAl cOnTRiBuTiOnS Of $5,000 DuRinG YEAR for every additional $5,000 you put in, you will be charged $0. º 1.1% asset administration fee, plus º 0.46% management fee, plus º $63 annual member fee ($1.21 per week) And, every $50,000 you have in the fund you will be charged $780 each year plus $63 in member fees (regardless of your balance). EquAlS cost of fund if you put in $5,000 during a year and your balance was $50,000, then for that year you will be charged fees of: $843* What it costs you will depend on the investment option you choose and, the fees you negotiate with your fund or financial adviser. * Additional fees may apply: Establishment fee – $0 And, if you leave the fund, you may also be charged a withdrawal fee of $80. TODAY. TOMORROW. READY. 36
Slide 37: additional explanation of fees and costs tax deductions Most of the fees paid directly by members are tax deductible. The Aon Master Trust passes on the benefits of tax deductions to members. > one or both of the following: – an ongoing fixed-dollar fee capped at a maximum of $10,000 pa and deducted monthly, and*/or – an ad hoc fixed-dollar fee capped at a maximum of $10,000 pa and deducted as a one-off amount. * The sum of ongoing and ad hoc fixed-dollar fees cannot exceed $10,000 pa. example: Let’s say you have a total account balance of $100,000 and that you have agreed to an ongoing asset-based fee of 1% pa. The fee deducted from your account each month will be $83 (1% x $100,000 / 12). To authorise payment of this fee, please ensure you and your adviser complete and return an Authority to advise form available on our website aonmastertrust.com.au or contact us on 1300 880 588. Please note that the trustee has the discretion to refuse to deduct an adviser fee. transfers within the Trust Transfers between Aon Master Trust Corporate Super, Personal Super and Pension are processed without any charge. adviser remuneration An adviser may have introduced the Trust to your employer and may receive remuneration for their services which can include advice on asset selection and allocation, insurance and taxation. All adviser fees are deducted directly from your member accounts, shown in your transaction statements (available any time online or by calling us) and included in your annual benefit statement. The adviser’s remuneration and how it is calculated is set out below: º manager performance fee Investment managers may charge a fee for overperformance of investment returns, for example 10% of any excess return over benchmark. This fee is deducted from investment earnings before unit prices are calculated and is only paid if the performance objectives are achieved. Potential performance fee ranges are shown on pages 12 to 19. asset administration fee – from the total asset administration fee, the Aon Master Trust may pay an asset-based commission to your adviser (if any) of up to 0.6% pa of your assets, unless otherwise agreed. This will be negotiated by your employer and disclosed in Your Plan Outline. units and buy/sell spreads Additions to your account are made by buying units at the applicable unit buy price. Most deductions to your account, including tax or fees, are made by selling units at the applicable unit sell price. Currently, the trustee does not charge buy/sell spreads on any of the investment options but reserves the right to introduce them at any time with a 30-day written notice to you. Independent fund managers managing the underlying products of these investment options charge the Trust buy/sell spreads which represent the transaction costs incurred when assets are bought or sold. These costs are reflected in the investment performance of each option. º insurance brokerage – Aon Master Trust may pay up to 21% of your insurance premium to your adviser. This will be negotiated by your employer and disclosed in Your Plan Outline. adviser service fee – if you have appointed an adviser, you and your adviser can agree on an annual service fee for the personal advice they provide (for example, developing and implementing a financial plan). This fee is deducted from your account and paid to your adviser. The fee can be: > an ongoing asset-based fee capped at 2% pa, calculated using your account balance at the end of each month and deducted monthly, or º 37
Slide 38: family law valuation fee Under family law legislation, an ‘eligible person’ (see the definition on page 44) may obtain certain information about a member’s superannuation account. The administrator charges a fee of $200 per family law valuation ($500 for defined benefit members) directly to the person who requests it at the time the request is made. The fee is not deducted from the member’s account. small accounts In accordance with member protection legislation, the administration fees charged each year on account balances less than $1,000 will not exceed the investment earnings credited. This restriction on fees does not extend to taxation, insurance costs or management fees. increases or alteration in charges The member fee and withdrawal fee may be indexed annually with changes in the Average Weekly Ordinary Time Earnings (AWOTE) index. We can also change your fees at any time if we give 30 days written notice to you. special request fees º º A fee of $160 for any family law splits. $80 is charged to each party at the time of the split. A fee of $160 for any temporary residency payments. goods and services tax (GST) All fees charged to you are inclusive of GST. TODAY. TOMORROW. READY. 38
Slide 39: AccESSinG YOuR SuPER BEnEfiTS when your super benefits are paid preservation and accessing your super In most cases, access to your super is restricted until you retire or you transition to retirement. Most money in the super system is ‘preserved super’. Generally, preserved super can only be accessed if you: º º º º reach age 65 reach age 60 and leave your employer reach your preservation age (see table below) and retire permanently from the workforce reach your preservation age and keep working, but choose to access some super under the rules which govern transition to retirement obtain release on severe financial hardship or compassionate grounds are a temporary resident leaving Australia permanently for overseas (conditions apply) suffer from an illness or incur an injury that will result in death within a 12 month period from the date of medical certification become totally incapacitated or die. transition to retirement If you reach preservation age and keep working, you can choose to access some of your super under transition to retirement rules. This requires converting part or all of your benefits to a non-commutable income stream. The Aon Master Trust Pension offers a transition to retirement pension – contact us or visit our website for more information and a copy of the Aon Master Trust Pension PDS. retirement You can roll over your benefit to the Aon Master Trust Pension, which offers an account-based income stream in retirement. transferring your balance out of the Trust Under portability legislation, you may transfer your super to another fund (subject to conditions that may be imposed under the trust deed). If you transfer your whole benefit from the Trust, you will no longer be a member of, or have any rights under, the Trust. You may, however, choose to rejoin the Trust in the future. Please contact us for more information. If you want to leave some of your super in the Trust, you are required to retain a minimum balance of $5,000 (this amount may be subject to change). If you have not made a contribution to the Trust for six months and your balance falls below $5,000 the trustee may transfer your benefit to the Eligible Rollover Fund (see page 40). º º º º If you would like more information about conditions and requirements call us on 1300 880 588. your preservation age is based on your date of birth before 1 July 1960 between 1 July 1960 and 30 June 1961 between 1 July 1961 and 30 June 1962 between 1 July 1962 and 30 June 1963 between 1 July 1963 and 30 June 1964 1 July 1964 or after age 55 56 57 58 59 60 unit pricing and benefit payments See Unit pricing policy and procedures on page 10 for information on unit pricing for benefit payments and other member transactions. your super benefit estimate You can log in to your account (user name and password required) on our website aonmastertrust.com.au and use the benefit calculator to give you an estimate of your benefit. If you have forgotten your user name and password, email us at contactcentre@aon.com.au or call us on 1300 880 588 and we will help you get online. In addition to preserved super, there are two other categories: ‘unrestricted non-preserved’ super, which can be accessed at any time, and ‘restricted non-preserved’ super, which in some cases can be accessed when you cease current employment. If any of your super falls into these two categories, it will be shown on your annual benefit statement and you can contact us regarding access. 39
Slide 40: leaving your employer Members must leave Aon Master Trust Corporate Super when they terminate employment in their employer plan. We will automatically transfer your Corporate Super membership: º º to Aon Master Trust Personal Super if your account balance is $5,000 or more to the Aon Eligible Rollover Fund if your account balance is less than $5,000. Your fees and premiums will be as noted in the Aon Master Trust Personal Super PDS – a copy of which you will receive with your benefit advice letter. Alternatively, you can download a copy from our website aonmastertrust.com.au. note *If you have income protection insurance in Corporate Super which you intend to continue on transfer, you must complete and send us the Continuation of income protection form (which you will receive with your benefit advice letter) within 60 days of leaving your employer – see page 31 for more information. Once you or your employer advise us that you have ceased employment, we will send you a benefit advice letter (once we have confirmed your termination date and received your last SG payment) advising you of your benefit transfer details. Transfers to the Aon Master Trust Personal Super or the Aon Eligible Rollover Fund take place automatically after 60 days from the date of your benefit advice letter, unless you advise us otherwise. For insurance-only plans, see next page. Please see When your super benefits are paid on page 39 for other benefit options available to you on ceasing employment. transfer to the Aon Eligible Rollover fund (ERf) On transfer to the Aon ERF, all insurance cover and premium deductions will cease and you will cease to be a member of the Aon Master Trust. Your account balance will be invested in a defensive investment strategy, which is likely to produce lower long-term investment returns than a balanced or growth strategy. Your ERF account will receive investment earnings and be charged fees by the ERF, subject to statutory member protection. You can claim your benefit from an ERF at any time, subject to preservation rules. The trustee’s chosen ERF is: transfer to Aon Master Trust Personal Super An automatic transfer to Personal Super means you’ll have: º no rollover to organise – your account will be invested in Personal Super in line with your existing strategy for future cashflow no forms* to complete no Corporate Super withdrawal fee no Personal Super entry fee no time out of the market – your super will be invested at all times on transfer, the same: > death and total and permanent disablement insurance cover (no health evidence required) – see page 31 for conditions occupation category for insurance (you should let us know if your occupation changes) – see page 31 for conditions investment strategy (which you can change any time) website and access to online services. º º º º º Aon Eligible Rollover fund GPO Box 9819 Sydney NSW 2001 Phone: 1300 880 588 Fax: 1800 010 435 > > > TODAY. TOMORROW. READY. 40
Slide 41: insurance-only plans If you terminate employment and you are in an insurance-only plan in the Aon Master Trust, we will notify you in writing and your insurance cover will cease from the date you terminate employment. Your membership in the Aon Master Trust will also cease as at the date of termination. You may have an option to continue your insurance cover and you must contact us on 1300 880 588 or your adviser (if any) to discuss your options as soon as you receive our letter as specific time periods apply for application. If you have super benefits in addition to your insurance cover (in an insurance-only plan), your benefits will be treated as outlined on page 40, based on your account balance at the date of termination. permanent incapacity benefit If you are not entitled to a TPD insurance benefit, but become permanently incapacitated, the sum of your account balance may be paid to you if you have ceased to be gainfully employed, and the trustee is satisfied that you are unlikely, because of physical or mental ill-health, ever to engage in gainful employment for which you are reasonably qualified by education, training or experience. 41
Slide 42: OThER iMPORTAnT infORMATiOn employer agreement and Your Plan Outline The conditions under which your employer has agreed to participate in the Trust are set out in the employer agreement (relevant provisions are covered in this PDS). Particular options that apply to your employer and you are described in Your Plan Outline. The documents we must give on request include: º º º º the governing rules (trust deed) of the Trust the audited accounts and copy of the auditor’s report the risk management plan most recent copy of the annual report. communicating with you Keeping you informed about your super is important. We do this through regular reports, updates, education material and our website aonmastertrust.com.au Your annual member benefit statement is sent to you in the second half of each year. The statement includes your account balance, contributions, investment earnings, fees, taxes and other information. You also have access to your transaction statements, newsletters, annual report and investment performance updates online. You must provide us with a valid address to ensure that you receive the most current information. You can update your information online by logging in at aonmastertrust.com.au. There are important exceptions from the disclosure requirements for internal working documents, confidential information, or information or documents that would, or may tend to disclose personal information, trade secrets or commercially valuable information devalued by disclosure. trust deed The trust deed has been amended from time to time. It may be amended by agreement between the trustee and the settlor (Aon Consulting Pty Limited) at any time. The powers to amend are limited by the current trust deed and by law. Specific rules regarding termination of the Trust and distribution of assets upon termination are contained in the trust deed and rules. The trust deed is available for inspection at the office of the administrator. Alternatively, a copy may be posted to you for a fee of $50. other information on request Information including product disclosure statements, privacy policy and annual reports is available on our website privacy We collect and keep personal information about you to manage your investment in the Trust. This information may be disclosed to the Trust’s insurer, administrator, auditors, government agencies or other parties including your adviser as required for the management of the Trust. The Privacy Act 1988 provides rules for the treatment of personal information and allows you to access personal information held by the Trust. If any of this information is incorrect, you have the opportunity to correct it. In some circumstances, you may be denied access to your information. Our Privacy Officer can assist with any questions regarding privacy. You can obtain a copy of the Trust’s privacy statement or the full privacy policy and management plan by visiting our website, or writing to the Privacy Officer, Aon Master Trust, GPO Box 9819, Sydney NSW 2001. aonmastertrust.com.au. We may provide other information on request to a participating employer, member, person who was a member within the previous 12 months or any other beneficiary of the Trust. We may charge fees for reasonable costs incurred. The information must be generally available, reasonably practicable to give and reasonably required for understanding: º º º º whether to acquire this product current, former or future benefit entitlements the main features, management and financial condition of the Aon Master Trust the investments and investment performance of the Aon Master Trust. TODAY. TOMORROW. READY. 42
Slide 43: death benefit nominations binding death benefit nomination If you wish to make a binding death benefit nomination, which is legally binding on the trustee, you must complete and send us a Binding death benefit nomination form available on our website aonmastertrust.com.au or contact us on 1300 880 588. There is no charge to maintain a binding nomination on your account. A binding nomination is valid for three years from the day after the date of signature and can be renewed, revoked or amended at any time. For more information see the factsheet Binding death benefit nomination on our website. Generally, if you do not hold a binding nomination or your binding nomination is invalid, death benefits are paid according to the terms of the trust deed. See page 30 for more information. anti-money laundering rules member identification Under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act) we require a certified copy of a photo ID and a residential address from members before processing a withdrawal, rollover or transfer from the Trust. Where certified ID is not available the trustee will accept secondary ID documents, a list of which is available in the Superannuation benefit transfer or payment request form on our website. Please see the factsheet Identification (ID) rules and certification of documents on our website for more information. compliance obligations Under the AML/CTF Act, we may be required to seek more information from you or delay or withhold transactions where we have reasonable grounds to believe they breach the law. Where legally obliged to do so, we may need to disclose the information gathered to the law enforcement or regulatory agencies. non-binding death benefit nomination You can make a non-binding death benefit nomination by completing the relevant section of the Change member details and options form available on our website and sending it to us. A non-binding death benefit nomination is used only as a guide to your wishes on who should receive your death benefit. It is not binding on the trustee. socially responsible investments The trustee does not explicitly take labor standards or environmental, social or ethical considerations into account in selecting, retaining or realising investments. Nor are these considerations taken into account when appointing or removing investment managers (except for the Australian Shares – Socially Responsible* option). * Option available from October 2008. anti-detriment tax refunds Where a death benefit payment is made to an individual who was a spouse, former spouse or child of the member, the trustee may calculate an ‘anti-detriment’ amount that will increase the death benefit payment to the eligible dependant or dependants. An ‘anti-detriment’ payment is a refund of contributions tax paid on all contributions made to the Trust by the member since joining the Aon Master Trust or since 1 July 1988, whichever is later, which reduces the death benefit payable. spouse membership Your spouse can join Aon Master Trust Personal Super, with investment and insurance options as shown in the Personal Super PDS. Spouses pay a 0.5% pa asset administration fee, plus any fee negotiated with them or their adviser. Send us a completed Personal Super: Member application form available in the Personal Super PDS available from our website (or contact us for a copy) and complete the Spouse membership section. 43
Slide 44: family law and super benefits After the breakdown of a marriage, super may be split between the parties, regardless of whose account it is held in. Superannuation can be divided by agreement or by order of the Family Court. To help reach an agreement, an eligible person may make an application for information and/or a superannuation valuation by applying to the trustee. An ‘eligible person’ in this case includes a member of the Trust, their spouse or a person contemplating a superannuation agreement with the member, eg a fiancé. An eligible person does not include those in de facto relationships. The trustee is entitled to charge a reasonable fee for information and/or valuations. If someone other than the member makes the application, we are prevented by legislation from informing the member. Family law and superannuation can be complex, so we recommend you and your spouse seek financial and legal advice before considering splitting superannuation assets. complaints resolution The Aon Master Trust has a procedure for dealing with member complaints. Complaints should be made in writing to the Inquiries Officer, Aon Master Trust, GPO Box 9819, Sydney NSW 2001. The trustee will consider and respond to your complaint within 90 days (final resolution may take longer than 90 days). The trustee will advise you of any decision within 30 days of the decision being made. If you are dissatisfied with the decision of the trustee, you may have the right to lodge a complaint with the Superannuation Complaints Tribunal (SCT). The SCT is an independent body that reviews trustee decisions relating to members. You can contact the SCT by phone on 1300 780 808 or write to Locked Bag 3060, GPO Melbourne Vic 3001. If the SCT accepts your complaint it will try to resolve it by conciliation. If this is not successful, the SCT may make a binding determination on all parties. bankruptcy and super benefits Where contributions are made to a superannuation fund by a person who has been declared bankrupt in order to defeat creditors, these contributions may be clawed back by the Official Receiver in Bankruptcy. updating this PDS We may update information in this PDS which is not materially adverse to you by posting the new information on our website aonmastertrust.com.au. We will also provide you with a hard copy on request. TODAY. TOMORROW. READY. 44
Slide 45: WhAT TO DO nExT unlESS OThERWiSE inDicATED, All fORMS AnD DOcuMEnTS ARE AvAilABlE fROM OuR WEBSiTE OR BY cOnTAcTinG uS (SEE BAck cOvER). Your employer has nominated Aon Master Trust Corporate Super as the default fund for your employer SG payments and/or your insurance cover. There are a number of things you can do to maximise your membership. To work out estimated premiums and insurance options check our online Insurance calculator.  onsider keeping your super in c one place You can transfer (roll over) super benefits from previous fund(s) into the Aon Master Trust. Complete and return the Request to transfer whole balance of superannuation benefits between funds form (see next page) for each previous fund along with a certified copy of a photo ID for each transfer – see page 2 of the form notes for more information.  check your personal details and update them If any of your personal details need to be updated, you can log in online and change them or complete and return to us the Change member details and options form, available on our website.  consider spouse membership If your spouse would like to join the Aon Master Trust, they should obtain their own copy of the Personal Super PDS, then complete and return the Personal Super: Member application form, including the Spouse membership section – see page 43.  ake personal contributions m You can make regular contributions by cheque or by payroll deductions (if your employer agrees). º If by cheque, complete and return a Lump sum contribution form each time. Please make any cheque(s) payable to: Aon Master Trust. If via payroll deduction, speak to your employer and find out if they can deduct personal before-tax or after-tax contributions (see pages 7 and 8) from your salary on an ongoing basis. You can use our online Salary sacrifice calculator to find a suitable option(s) for you.  onsider making a death c benefit nomination To make a binding death benefit nomination on your account complete and return a Binding death benefit nomination form. To make a non-binding death benefit nomination for your super account, complete the relevant section of the Change member details and options form or log in online. º  consider your investment option(s) To choose investment option(s) other than the default you can log in online and make a choice or complete and return a Switching investment options – current members form or a Change member details and options form. You can switch investments as often as you like at no cost.  ontinue to advise us of any change c to personal details and options If and when your circumstances or choices change complete and send us a Change member details and options form or log in online and make the changes. By keeping your contact details current you can ensure that you receive your member correspondence on an ongoing basis.  consider your insurance option(s) To select insurance cover other than the default level of cover determined by your employer, see pages 22 to 31 and then complete and return a Personal statement and declaration of health (if required) or, if you are transferring your cover from another super fund or retail insurer, an Individual insurance transfer questionnaire. We will notify you if further health evidence is required. making financial decisions? If you do not have an adviser and you’d like advice on choosing investment options, deciding on insurance or comparing financial products, call us on 1300 880 588 for more information about financial planning services. TODAY. TOMORROW. READY. 45
Slide 46: TODAY. TOMORROW. READY. 46
Slide 47: Completing the request to transfer whole balance of superannuation benefits between funds form By completing this form, you will request the transfer of the WHOLE balance of your superannuation benefits between funds. This form can NOT be used to transfer part of the balance of your superannuation benefits. This form will NOT change the fund to which your employer pays your contributions. The Standard Choice Form must be used by you to change funds. BEFORE COMPLETING THIS FORM ■ ■ Read the important information below. Check that the fund you are transferring your benefits TO can accept this transfer. THINGS YOU NEED TO CONSIDER WHEN TRANSFERRING YOUR SUPERANNUATION WHEN COMPLETING THIS FORM ■ ■ Refer to these instructions where a question shows a message like this: Print clearly in BLOCK LETTERS. AFTER COMPLETING THIS FORM ■ ■ ■ ■ Sign the authorisation. Attach the appropriately certified proof of identity documents. Review the checklist below. Send the request form to your fund. When you transfer your superannuation, your entitlements under that fund may cease. You need to consider all relevant information before you make a decision to transfer your superannuation. If you ask for information, your superannuation provider must give it to you. Some of the points you may consider are: ■ Fees – your FROM fund must give you information about any exit or withdrawal fees. If you are not aware of the fees that may apply, you should contact your fund for further information before completing this form. The fees could include administration fees as well as exit or withdrawal fees. Your TO fund may also charge entry or deposit fees on transfer. Differences in fees funds charge can have a significant effect on what you will have to retire on. For example, a 1% increase in fees may significantly reduce your final benefit. ■ IMPORTANT INFORMATION This transfer may close your account (you will need to check this with your FROM fund). This form can NOT be used to: transfer part of the balance of your superannuation benefits ■ transfer benefits if you don’t know where your superannuation is ■ transfer benefits from multiple funds on this one form – a separate form must be completed for each fund you wish to transfer superannuation from ■ change the fund to which your employer pays contributions on your behalf ■ open a superannuation account, or ■ transfer benefits under certain conditions or circumstances, for example if there is a superannuation agreement under the Family Law Act 1975 in place. ■ Death and disability benefits – your FROM fund may insure you against death, illness or an accident which leaves you unable to return to work. If you choose to leave your current fund, you may lose any insurance entitlements you have. Other funds may not offer insurance, or may require you to pass a medical examination before they cover you. When considering a new fund, you may wish to check the costs and amount of any cover offered. WHAT HAPPENS IF I DO NOT QUOTE MY TAX FILE NUMBER (TFN)? You are not obligated to provide your TFN to your superannuation fund. However, if you do not provide your TFN, your fund may be taxed at the highest marginal tax rate plus the Medicare levy on contributions made to your account in the year, compared to the concessional tax rate of 15%. Your fund may deduct this additional tax from your account. If your superannuation fund does not have your TFN, you will not be able to make personal contributions to your superannuation account. Choosing to quote your TFN will also make it easier to keep track of your superannuation in the future. Under the Superannuation Industry (Supervision) Act 1993, your superannuation fund is authorised to collect your TFN, which will only be used for lawful purposes. These purposes may change in the future as a result of legislative change. The TFN may be disclosed to another superannuation provider, when your benefits are being transferred, unless you request in writing that your TFN is not to be disclosed to any other trustee. CHECKLIST Have you read the important information? Have you considered where your future employer contributions will be paid? Have you checked your TO fund can accept the transfer? Have you completed all of the mandatory fields on the form? Have you signed and dated the form? Have you attached the certified documentation including any linking documents if applicable? TRANSFERS TO SELF MANAGED SUPERANNUATION FUNDS You may use this form to transfer your benefits to your own self managed superannuation fund (SMSF). You should be aware that SMSFs are subject to the same rules and restrictions as other funds, when benefits are to be paid out. In particular, superannuation benefits in a SMSF are required to be ‘preserved’, meaning they are not generally able to be accessed until you are over age 55 and retired. The trustee of your FROM fund may be able to request further information from you about your status as a member, a trustee or a director of a corporate trustee of your SMSF, if there are multiple transfer requests to your SMSF. Penalties may apply for providing false or misleading information. Page 1 WHAT HAPPENS TO MY FUTURE EMPLOYER CONTRIBUTIONS? Using this form to transfer your benefits will not change the fund to which your employer pays your contributions and may close the account you are transferring your benefits FROM. If you wish to change the fund into which your contributions are being paid, you will need to speak to your employer about Choice. For the appropriate forms and information about whether you are eligible to choose the fund to which your employer contributions are made, visit www.superchoice.gov.au or call the Australian Taxation Office on 13 10 20. JS 6676-03.2007 IN-CONFIDENCE – when completed
Slide 48: Completing proof of identity CERTIFICATION OF PERSONAL DOCUMENTS You will need to provide documentation with this transfer request to prove you are the person to whom the superannuation entitlements belong. All copied pages of ORIGINAL proof of identification documents (including any linking documents) need to be certified as true copies by any individual approved to do so (see below). The person who is authorised to certify documents must sight the original and the copy and make sure both documents are identical, then make sure all pages have been certified as true copies by writing or stamping ‘certified true copy’ followed by their signature, printed name, qualification (eg Justice of the Peace, Australia Post employee, etc) and date. The following can certify copies of the originals as true and correct copies: ■ a permanent employee of Australia Post with five or more years of continuous service ■ a finance company officer with five or more years of continuous service (with one or more finance companies) ■ an officer with, or authorised representative of, a holder of an Australian Financial Services Licence (AFSL), having five or more years continuous service with one or more licensees ■ a notary public officer ■ a police officer ■ a registrar or deputy registrar of a court ■ a Justice of the Peace ■ a person enrolled on the roll of a State or Territory Supreme Court or the High Court of Australia, as a legal practitioner ■ an Australian consular officer or an Australian diplomatic officer ■ a judge of a court ■ a magistrate, or ■ a Chief Executive Officer of a Commonwealth court. ACCEPTABLE DOCUMENTS EITHER The following documents may be used. One of the following documents only: ■ driver’s licence issued under State or Territory law ■ passport. OR One of the following documents: ■ birth certificate or birth extract ■ citizenship certificate issued by the Commonwealth ■ pension card AND issued by Centrelink that entitles the person to financial benefits. One of the following documents: ■ letter from Centrelink regarding a Government assistance payment ■ notice issued by Commonwealth, State or Territory Government or local council within the past twelve months that contains your name and residential address. For example: – Tax Office Notice of Assessment – Rates notice from local council. HAVE YOU CHANGED YOUR NAME OR ARE YOU SIGNING ON BEHALF OF ANOTHER PERSON? WHERE DO I SEND THE FORM? If you have changed your name or are signing on behalf of the applicant, you will need to provide a certified linking document. A linking document is a document that proves a relationship exists between two (or more) names. The following table contains information about suitable linking documents. Purpose Change of name Signed on behalf of the applicant Suitable linking documents Marriage certificate, deed poll or change of name certificate from the Births, Deaths and Marriages Registration Office. Guardianship papers or Power of Attorney. You can send your completed and signed form with your certified proof of identity documents to either fund. MORE INFORMATION For more information about superannuation, visit the: ■ Australian Securities and Investments Commission website at www.fido.asic.gov.au, or ■ Australian Taxation Office website at www.ato.gov.au/super For more information about this form, phone the Australian Taxation Office on 13 10 20. IN-CONFIDENCE – when completed Page 2
Slide 49: Request to transfer whole balance of superannuation benefits between funds COMPLETING THIS FORM ■ ■ ■ under the Superannuation Industry (Supervision) Act 1993 AFTER COMPLETING THIS FORM ■ ■ Read the important information pages Refer to instructions where indicated with a This form is only for whole (not part) balance transfers. Sign the authorisation Send form and certified proof of identity documents to either your FROM or TO fund. Personal details Title: Mr Mrs Miss Ms Other Residential address *Address *Suburb *State/territory *Postcode *Family name *Given names Other/previous names Day Month Year *Date of birth Tax file number Under the Superannuation Industry (Supervision) Act 1993, you are not obliged to disclose your tax file number, but there may be tax consequences. See ‘What happens if I do not quote my tax file number?’ Previous address If you know that the address held by your FROM fund is different to your current residential address, please give details below. Address Suburb *Gender Male Female *Contact phone number State/territory Postcode Fund details FROM *Fund name Fund phone number Membership or account number Australian business number (ABN) Superannuation Product Identification Number (SPIN) If you have multiple account numbers with this fund, you must complete a separate form for each account you wish to transfer. TO *Fund name Aon Master Trust Corporate Super GPO Box 9819, Sydney NSW 2001 *Fund phone number 1 3 0 0 8 8 0 5 8 8 *Membership or account number Australian business 68 964 712 340 number (ABN) Superannuation Product AON0201AU Identification Number (SPIN) You must check with your TO fund to ensure they can accept this transfer. *Proof of identity See ‘Completing proof of identity’ I have attached a certified copy of my driver’s licence or passport OR I have attached certified copies of both: Birth/Citizenship Certificate or Centrelink Pension Card AND Centrelink payment letter or Government or local council notice (<1 year old) with name and address Authorisation By signing this request form I am making the following statements: ■ I declare I have fully read this form and the information completed is true and correct ■ I am aware I may ask my superannuation provider for information about any fees or charges that may apply, or any other information about the effect this transfer may have on my benefits, and do not require any further information. ■ If the TO fund is a self managed superannuation fund (SMSF), I confirm that I am a member, trustee or director of a corporate trustee of the SMSF. ■ I discharge the superannuation provider of my FROM fund of all further liability *Name (Print in BLOCK LETTERS) *Signature Day Month Year in respect of the benefits paid and transferred to my TO fund. *Date I request and consent to the transfer of superannuation as described above and authorise the superannuation provider of each fund to give effect to this transfer. * Denotes mandatory field. If you do not complete all of the mandatory fields, there may be a delay in processing your request. JS 6676-03.2007 IN-CONFIDENCE – when completed Page 3
Slide 50: 1 July 2008 Administrator: Aon Consulting Pty Limited GPO Box 9819, Sydney NSW 2001 phone 1300 880 588 fax 1800 010 435 email contactcentre@aon.com.au To whom it may concern AON MASTER TRUST – CORPORATE SUPER COMPLIANCE ADVICE This letter confirms that Aon Master Trust – Corporate Super, is part of the Aon Master Trust (‘the Trust’) (ABN 68 964 712 340, RSE R1000566). It is a complying, resident regulated superannuation fund as defined under Section 10(1) of the Superannuation Industry (Supervision) Act 1993. The trustee of the Aon Master Trust is Aon Superannuation Pty Limited (ABN 83 057 982 822, AFSL 237465, RSE L0000437). The Aon Master Trust was established by a trust deed dated 25 June 1990 and is able to accept contributions on your behalf from your employer and rollovers/transfers from other complying funds. In the event that the Fund’s complying status is revoked the trustee would receive notice to that effect under section 63 of the Superannuation Industry (Supervision) Act 1993. The trustee confirms that it has not received nor does it expect to receive any such notice. Yours sincerely Jennifer Dean Fund Secretary For and on behalf of the trustee of the Aon Master Trust, Aon Superannuation Pty Limited Please note that this letter can be provided to the fund you are transferring from or to your employer to confirm that the Trust is a complying superannuation fund. Superannuation Fund Numbers (SFNs) are no longer used and the relevant identifiers are given below. ABN: SPIN: 68 964 712 340 AON0201AU Trustee: Aon Superannuation Pty Limited ABN 83 057 982 822 • AFSL 237465 • RSE L0000437 Aon has always valued the privacy of personal information. If you would like a copy of our Privacy Policy, you can contact us or access it from our website at www.aon.com.au.
Slide 51: DiREcTORY Aon Master Trust Aon Master Trust GPO Box 9819 Sydney NSW 2001 Phone 1300 880 588 Fax 1800 010 435 ABN 68 964 712 340 RSE R1000566 relationship between the trustee and some service providers to the Trust The administrator, Aon Consulting Pty Limited, owns all shares in the trustee, Aon Superannuation Pty Limited. Aon Corporation Inc. is the ultimate owner of Aon Consulting Pty Limited. Aon Consulting Pty Limited is paid fees for its services to Aon Master Trust Corporate Super. These services include administration, investment and general consulting and form part of the management fees described on page 35. The trustee undertakes that it will not deal with service providers who are associates of the trustee more favourably than it would deal with any other independent service providers. The trustee advises that under the law, where the trustee invests, it must deal with the other party to the investment transaction at arm’s length or on arm’s length terms. Administrator Aon Consulting Pty Limited ABN 48 002 288 646 AFSL 236667 Trustee Aon Superannuation Pty Limited ABN 83 057 982 822 AFSL 237465 RSE L0000437 custodian services BNP Paribas Funds Services Australasia Pty Ltd ABN 71 002 655 674 AFSL 241080 insurer American International Assurance Company (Australia) Limited, trading as AIG Life ABN 79 004 837 861 AFSL 230043 Eligible Rollover fund Aon Eligible Rollover Fund GPO Box 9819 Sydney NSW 2001 Phone: 1300 880 588 Fax: 1800 010 435 ABN 54 338 733 881 RSE R1000573 51
Slide 52: Administrator Aon Consulting Pty Limited Aon Master Trust GPO Box 9819 Sydney NSW 2001 phone 1300 880 588 fax 1800 010 435 contactcentre@aon.com.au aonmastertrust.com.au aonmastertrust.com.au © 2008 This work is copyright. Apart from any use permitted under the Copyright Act 1968, no part may be reproduced by any process nor may any other exclusive right be exercised without the permission of Aon Consulting Pty Limited. is an employee benefits program owned and administered by Aon Consulting Pty Limited. ™ is a registered trademark of Aon Consulting Pty Limited. ACON284A 0708

   
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